Morgan Stanley Sells 38,376 Shares of Digital Turbine Inc (NASDAQ:APPS)

Morgan Stanley decreased its position in Digital Turbine Inc (NASDAQ:APPS) by 30.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,040 shares of the software maker’s stock after selling 38,376 shares during the quarter. Morgan Stanley owned approximately 0.11% of Digital Turbine worth $441,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its position in shares of Digital Turbine by 50.3% in the second quarter. Acadian Asset Management LLC now owns 929,641 shares of the software maker’s stock valued at $4,648,000 after purchasing an additional 310,980 shares during the period. Stone Ridge Asset Management LLC increased its position in Digital Turbine by 433.6% during the second quarter. Stone Ridge Asset Management LLC now owns 61,900 shares of the software maker’s stock worth $310,000 after acquiring an additional 50,300 shares during the period. Northern Trust Corp increased its position in Digital Turbine by 63.0% during the second quarter. Northern Trust Corp now owns 179,264 shares of the software maker’s stock worth $896,000 after acquiring an additional 69,319 shares during the period. Calamos Advisors LLC bought a new position in Digital Turbine during the second quarter worth $2,185,000. Finally, Invesco Ltd. bought a new position in Digital Turbine during the second quarter worth $2,847,000. 35.86% of the stock is currently owned by institutional investors.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Digital Turbine from a “hold” rating to a “strong-buy” rating and set a $7.75 target price on the stock in a research report on Wednesday, November 6th. BidaskClub lowered shares of Digital Turbine from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 2nd. ValuEngine lowered shares of Digital Turbine from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, B. Riley set a $7.00 target price on shares of Digital Turbine and gave the stock a “buy” rating in a research report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $6.06.

Digital Turbine stock traded up $0.31 on Tuesday, hitting $7.64. The company’s stock had a trading volume of 29,192 shares, compared to its average volume of 1,768,469. The firm has a market cap of $606.71 million, a P/E ratio of 155.00 and a beta of 1.45. The company has a fifty day moving average price of $6.73 and a 200-day moving average price of $5.63. Digital Turbine Inc has a one year low of $1.54 and a one year high of $7.84.

About Digital Turbine

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.

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Institutional Ownership by Quarter for Digital Turbine (NASDAQ:APPS)

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