Harbor Capital Advisors Inc. Sells 1,230,868 Shares of Digital Turbine, Inc. $APPS

Harbor Capital Advisors Inc. reduced its holdings in shares of Digital Turbine, Inc. (NASDAQ:APPS) by 60.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 808,223 shares of the software maker’s stock after selling 1,230,868 shares during the period. Harbor Capital Advisors Inc. owned about 0.75% of Digital Turbine worth $5,173,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of APPS. Arrowstreet Capital Limited Partnership increased its stake in shares of Digital Turbine by 179.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,163,124 shares of the software maker’s stock worth $18,662,000 after purchasing an additional 2,033,216 shares in the last quarter. G2 Investment Partners Management LLC purchased a new position in Digital Turbine during the second quarter valued at $8,341,000. Invesco Ltd. grew its holdings in Digital Turbine by 240.9% during the second quarter. Invesco Ltd. now owns 1,295,618 shares of the software maker’s stock valued at $7,644,000 after purchasing an additional 915,536 shares during the period. Vanguard Group Inc. increased its position in Digital Turbine by 11.2% in the first quarter. Vanguard Group Inc. now owns 8,869,396 shares of the software maker’s stock worth $24,080,000 after buying an additional 893,035 shares in the last quarter. Finally, S Squared Technology LLC increased its position in Digital Turbine by 241.2% in the first quarter. S Squared Technology LLC now owns 730,326 shares of the software maker’s stock worth $1,983,000 after buying an additional 516,266 shares in the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digital Turbine in a research report on Monday. Zacks Research raised shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Craig Hallum reiterated a “buy” rating and issued a $10.00 price target on shares of Digital Turbine in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Digital Turbine currently has an average rating of “Moderate Buy” and a consensus price target of $7.75.

Digital Turbine Stock Up 3.9%

Shares of APPS opened at $5.43 on Thursday. The business’s 50 day moving average is $5.47 and its 200 day moving average is $5.34. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.66. Digital Turbine, Inc. has a 12-month low of $1.64 and a 12-month high of $8.28. The company has a market capitalization of $608.41 million, a PE ratio of -7.43, a price-to-earnings-growth ratio of 1.54 and a beta of 2.30.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. Digital Turbine had a negative net margin of 14.59% and a positive return on equity of 12.12%. The business had revenue of $140.38 million during the quarter, compared to analyst estimates of $142.00 million. Research analysts expect that Digital Turbine, Inc. will post -0.03 earnings per share for the current fiscal year.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.