Granahan Investment Management LLC Acquires 762,888 Shares of Digital Turbine, Inc. $APPS

Granahan Investment Management LLC grew its holdings in Digital Turbine, Inc. (NASDAQ:APPS) by 12.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,112,351 shares of the software maker’s stock after acquiring an additional 762,888 shares during the period. Granahan Investment Management LLC owned about 0.06% of Digital Turbine worth $20,484,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in APPS. AIGH Capital Management LLC bought a new position in shares of Digital Turbine in the 1st quarter valued at about $14,100,000. Globeflex Capital L P purchased a new position in Digital Turbine in the first quarter worth about $1,227,000. UBS Group AG grew its position in Digital Turbine by 444.0% in the fourth quarter. UBS Group AG now owns 779,585 shares of the software maker’s stock worth $3,898,000 after acquiring an additional 636,267 shares in the last quarter. S Squared Technology LLC increased its stake in Digital Turbine by 13.0% during the fourth quarter. S Squared Technology LLC now owns 653,571 shares of the software maker’s stock worth $3,268,000 after acquiring an additional 75,000 shares during the last quarter. Finally, GC Wealth Management RIA LLC increased its stake in Digital Turbine by 41.9% during the first quarter. GC Wealth Management RIA LLC now owns 576,273 shares of the software maker’s stock worth $1,660,000 after acquiring an additional 170,134 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors.

Digital Turbine Price Performance

NASDAQ APPS opened at $8.45 on Friday. The firm’s fifty day simple moving average is $9.03 and its two-hundred day simple moving average is $5.78. The firm has a market capitalization of $1.02 billion, a P/E ratio of -23.47, a P/E/G ratio of 0.62 and a beta of 2.75. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.84. Digital Turbine, Inc. has a 12-month low of $2.74 and a 12-month high of $13.60.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Tuesday, May 26th. The software maker reported $0.16 EPS for the quarter, beating the consensus estimate of $0.09 by $0.07. The firm had revenue of $142.55 million during the quarter, compared to analyst estimates of $133.22 million. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%. Analysts forecast that Digital Turbine, Inc. will post 0.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America raised Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price objective for the company in a research note on Wednesday, May 27th. Wall Street Zen raised Digital Turbine from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Zacks Research upgraded Digital Turbine from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 28th. Roth Capital initiated coverage on Digital Turbine in a research report on Tuesday. They issued a “buy” rating and a $11.50 price target for the company. Finally, Benchmark assumed coverage on shares of Digital Turbine in a research report on Tuesday. They set a “buy” rating and a $15.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $11.00.

Digital Turbine Company Profile

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.