Granahan Investment Management LLC Has $31.75 Million Stock Position in Digital Turbine, Inc. $APPS

Granahan Investment Management LLC raised its position in Digital Turbine, Inc. (NASDAQ:APPS) by 11.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,349,463 shares of the software maker’s stock after acquiring an additional 635,526 shares during the period. Digital Turbine comprises approximately 1.4% of Granahan Investment Management LLC’s holdings, making the stock its 23rd largest holding. Granahan Investment Management LLC owned 5.30% of Digital Turbine worth $31,747,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in APPS. Quarry LP raised its holdings in shares of Digital Turbine by 1,323.4% in the 4th quarter. Quarry LP now owns 5,594 shares of the software maker’s stock worth $28,000 after buying an additional 5,201 shares in the last quarter. Strs Ohio acquired a new position in shares of Digital Turbine in the 1st quarter worth approximately $41,000. PFG Investments LLC acquired a new position in shares of Digital Turbine in the 4th quarter worth approximately $50,000. Smartleaf Asset Management LLC acquired a new position in shares of Digital Turbine in the 2nd quarter worth approximately $57,000. Finally, Legal & General Group Plc raised its holdings in shares of Digital Turbine by 31.6% in the 2nd quarter. Legal & General Group Plc now owns 10,624 shares of the software maker’s stock worth $63,000 after buying an additional 2,550 shares in the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on APPS. Bank of America raised Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 target price for the company in a report on Wednesday, May 27th. Wall Street Zen upgraded Digital Turbine from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings lowered Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. Finally, Zacks Research upgraded Digital Turbine from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Digital Turbine currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.75.

Digital Turbine Stock Down 4.4%

NASDAQ APPS opened at $9.40 on Wednesday. The firm has a market cap of $1.13 billion, a PE ratio of -26.11, a price-to-earnings-growth ratio of 0.76 and a beta of 2.84. Digital Turbine, Inc. has a one year low of $2.74 and a one year high of $10.80. The stock’s 50 day simple moving average is $5.38 and its 200 day simple moving average is $4.79. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.16 and a quick ratio of 1.16.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Tuesday, May 26th. The software maker reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.07. The business had revenue of $142.55 million for the quarter, compared to analyst estimates of $133.23 million. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%. As a group, sell-side analysts forecast that Digital Turbine, Inc. will post 0.68 earnings per share for the current fiscal year.

Digital Turbine 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.