Buying Buzz: Digital Turbine Inc. [APPS] Director DEUTSCHMAN ROBERT M acquires 15,000 shares of the company

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Digital Turbine Inc. shares valued at $474,900 were purchased by DEUTSCHMAN ROBERT M on Mar 14. At $31.66 per share, DEUTSCHMAN ROBERT M acquired 15,000 shares. The insider’s holdings grew to 416,044 shares worth approximately $7.68 million following the completion of this transaction.


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Also, STERLING MICHELLE M purchased 1,000 shares, netting a total of over 36,790 in proceeds. Following the buying of shares at $36.79 each, the insider now holds 17,640 shares.

Before that, STONE WILLIAM GORDON III had sold 70,271 shares from its account. In a trade valued at $3,251,602, the Chief Executive Officer traded Digital Turbine Inc. shares for $46.27 each. Upon closing the transaction, the insider’s holdings decreased to 70,271 shares, worth approximately $20.99 million.

As published in their initiating research note from B. Riley Securities on June 29, 2022, Digital Turbine Inc. [APPS] has been a Buy and the price target has been revised to $29. This represents a 36.31% premium over Wednesday’s closing price. Analysts at Macquarie upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in early December. As of August 31, 2021, Canaccord Genuity has increased its “Hold” rating to a “Buy” for APPS. Earlier on August 31, 2021, Macquarie initiated its rating. Their recommendation was “a Neutral” for APPS stock.

Analyzing APPS’s Price Performance

On Wednesday, Digital Turbine Inc. [NASDAQ: APPS] plunged -0.81% to $18.47. The stock’s lowest price that day was $18.275, but it reached a high of $19.28 in the same session. During the last five days, there has been a drop of approximately -12.46%. Over the course of the year, Digital Turbine Inc. shares have dropped approximately -69.72%. Shares of the company reached a 52-week high of $63.24 on 01/03/22 and a 52-week low of $14.43 on 06/16/22. A 50-day SMA is recorded $19.85, while a 200-day SMA reached $36.16. Nevertheless, trading volume fell to 1.89 million shares from 1.71 million shares the previous day.

Support And Resistance Levels for Digital Turbine Inc. (APPS)

According to the 24-hour chart, there is a support level at 18.07, which, if violated, would cause prices to drop to 17.67. In the upper region, resistance lies at 19.08. The next price resistance is at 19.68. RSI (Relative Strength Index) is 37.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.96, which suggests the price will decrease in the coming days. Percent R is at 96.88%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Digital Turbine Inc. subject to short interest?

Stocks of Digital Turbine Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.17 million shares to 6.28 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.11 million shares. A jump of 2.71% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.58 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.58.

Which companies own the most shares of Digital Turbine Inc. (APPS)?

According to BlackRock Fund Advisors filings, the company currently owns 13,066,831 shares, which is about 13.28% of the total APPS shares outstanding. The investor’s shares have appreciated by 3,874,304 from its previous 13-F filing of 9192527.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $192,099,282. Granahan Investment Management, L acquire a 26.42% interest valued at $63.22 million while SSgA Funds Management, Inc. purchased a 99,364 stake. A total of 1,114,347 shares of Digital Turbine Inc. were bought by Rice, Hall, James & Associates LL during the quarter, and -23,832 were sold by Geode Capital Management LLC. In its current portfolio, Capital Research & Management Co holds 1,500,000 shares valued at $30.11 million.

In terms of Digital Turbine Inc. share price expectations, FactSet research, analysts set an average price target of $35.18 in the next 12 months, up nearly 74.54% from the previous closing price of $18.62. Analysts anticipate Digital Turbine Inc. stock to reach $60.00 by 2022, with the lowest price target being $26.00. In spite of this, 6 analysts ranked Digital Turbine Inc. stock as a Buy at the end of 2022. On February 26, 2021, Craig Hallum assigned a price target of “a Buy” to the stock and reiterated coverage with a $90.

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