BlackRock Fund Advisors has recently announced that it has increased stake in Digital Turbine Inc. (NASDAQ:APPS) by 4.66%. After grabbing 5.03 million shares, the institutional investor is now in possession of 0.22 million shares of the Technology Company. The new investment brought the stake of investor firm to 5.76% having worth around $69.84 million. Moreover, Fidelity Management & Research Co.. increased its share by 4.65 million to have a control over 4.65 million shares. And The Vanguard Group, Inc. raised its holdings to 0.34 million shares by acquiring 4.36 million shares or 5.00% of the stake.
Digital Turbine Inc. (APPS) concluded trading on 08/26/20 at a closing price of $23.67, with 5.69 million shares of worth about $134.56 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -14.67% during that period and on Wednesday the price saw a loss of about -3.43%. Currently the company’s common shares owned by public are about 87.39M shares, out of which, 83.87M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the APPS stock and their offered price forecasts bring an average price target of $23.43. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $25.00 and could fall to a lowest price of $21.00. Analysts also issued an outlook of 1.40 for the Digital Turbine Inc. stock for next 12 months. The stock’s current price level is -1.02% below of average price target set by the analysts, while a dip to estimated low would result in loss of -12.71 for the stock. However, touching the estimated high of $25.00 would mean a gain of 5.32% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 32 times over the past 12 months. They bought 406,097 shares in 28 of the transactions. In 4 selling transactions, insiders dumped 78,000 shares.
Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Fidelity Advisor Series I -Growth are the top 3 mutual funds which are holding stakes in Digital Turbine Inc. Vanguard Total Stock Market Index is currently holding 2.21 million shares of worth totaling $30.62 million. The company recently came selling 43373.0 shares which brought its stake up to 2.53% of the company’s outstanding shares. iShares Russell 2000 ETF sold 79492.0 shares, after which its hold over company’s outstanding shares shrunk to 1.95%, leaving 1.7 million shares with the mutual fund that have a worth of about $23.59 million. Fidelity Advisor Series I -Growth, after buying 1.45 million shares, have now control over 1.66% of the stake in the company. It holds 1.45 million shares of worth $20.14 million.
Digital Turbine Inc. (NASDAQ: APPS) started trading at $24.848, above $0.34 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $23.67, or with a loss of -3.43%. Stock saw a price change of -14.67% in past 5 days and over the past one month there was a price change of 95.46%. Year-to-date (YTD), APPS shares are showing a performance of 231.98% which increased to 227.84% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.48 but also hit the highest price of $29.56 during that period. While comparing its average daily trading volume of 3.46 million shares, we see that about 5.69 million changed hands on the day. The stock is currently trading 8.34% above its 20-day simple moving average (SMA20), while that difference is up 47.70% for SMA50 and it goes to 164.50% higher than SMA200.
BlackRock Fund Advisors acquired 5.03 million shares of Digital Turbine Inc. having value of about $69.84 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.22 million shares in the company valued at close to $5302316.7, or have control over 4.66% stake in the company. Digital Turbine Inc. (NASDAQ: APPS) currently have 87.39M outstanding shares and institutions hold larger chunk of about 62.90% of that. Holding of mutual funds in the company is about 25.14% while other institutional holders and individual stake holders have control over 35.27% and 12.14% of the stake respectively.
The stock has a current market capitalization of $2.08B and its 3Y-monthly beta is at 2.12. PE ratio of stock for trailing 12 months is 83.35, while it has posted earnings per share of $0.28 in the same period. Its PEG reads 1.67 and has Quick Ratio of 0.80 while making debt-to-equity ratio of 0.22. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for APPS, volatility over the week remained 11.74% while standing at 8.91% over the month.
Analysts are in expectations that Digital Turbine Inc. (APPS) stock would likely to be making an EPS of $0.11 in the current quarter, while forecast for next quarter ESPS is $0.12 and it is $0.58 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.11 which is $0.12 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.05 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 387.00% while it is estimated to increase by 25.27% in next year. EPS is likely to grow at an annualized rate of 50.00% for next 5-years, compared to annual growth of 17.60% made by the stock over the past 5-years.
Analysts at 7 brokerage firms have issued recommendations for the Digital Turbine Inc. (APPS)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.40. Out of those 7 Wall Street analysts, 7 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Ladenburg Thalmann on August 06, 2020 offering a Buy rating for the stock and assigned a target price of to it. Coverage by Craig Hallum stated Digital Turbine Inc. (APPS) stock as a Buy in their note to investors on August 06, 2020, suggesting a price target of $24 for the stock. On July 07, 2020, Ladenburg Thalmann Downgrade their recommendations, while on June 30, 2020, Craig Hallum Reiterated their ratings for the stock with a price target of $15. Stock get an Outperform rating from Oppenheimer on June 25, 2020.