First Trust Direct Indexing L.P. Sells 9,258 Shares of Digital Turbine, Inc. (NASDAQ:APPS)

First Trust Direct Indexing L.P. lessened its position in Digital Turbine, Inc. (NASDAQ:APPS) by 30.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,815 shares of the software maker’s stock after selling 9,258 shares during the period. First Trust Direct Indexing L.P.’s holdings in Digital Turbine were worth $64,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. raised its position in Digital Turbine by 104.1% in the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock worth $25,000 after buying an additional 4,167 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Digital Turbine during the first quarter valued at approximately $28,000. Ballentine Partners LLC bought a new position in Digital Turbine during the third quarter valued at approximately $43,000. Creative Planning purchased a new stake in Digital Turbine in the third quarter worth approximately $57,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Digital Turbine in the 1st quarter worth approximately $55,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Digital Turbine Price Performance

NASDAQ APPS opened at $3.24 on Thursday. The stock has a market capitalization of $333.01 million, a price-to-earnings ratio of -0.75, a PEG ratio of 9.61 and a beta of 2.59. Digital Turbine, Inc. has a 1-year low of $1.39 and a 1-year high of $7.32. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.05 and a quick ratio of 1.05. The business’s fifty day moving average price is $3.07 and its 200-day moving average price is $2.50.

Digital Turbine (NASDAQ:APPS) last posted its earnings results on Wednesday, August 7th. The software maker reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The company had revenue of $117.99 million for the quarter, compared to the consensus estimate of $115.23 million. Digital Turbine had a positive return on equity of 5.37% and a negative net margin of 84.71%. Digital Turbine’s revenue was down 19.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 earnings per share. On average, equities analysts predict that Digital Turbine, Inc. will post 0.05 earnings per share for the current year.

Digital Turbine Company Profile

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.