A company insider recently bought 15,000 shares of Digital Turbine Inc. [APPS]. Should You Buy?


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 $4.77 million following the completion of this transaction.

From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio

The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.

Get our free report, "Top 5 AI Stocks to Buy for 2023".


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 $13.02 million.

As published in a research note from Macquarie on February 17, 2023, Digital Turbine Inc. [APPS] has been rated down from an Outperform to a Neutral and the price target has been revised to $12. This represents a 4.5% premium over Thursday’s closing price. Analysts at Oppenheimer downgraded the stock from ‘”an Outperform”‘ to ‘”a Perform”‘ outlook in a report released in early February. As of February 01, 2023, B. Riley Securities has decreased its “Buy” rating to a “Neutral” for APPS. Earlier on October 17, 2022, BofA Securities initiated its rating. Their recommendation was “a Buy” for APPS stock.

Analyzing APPS Stock Performance

On Thursday, Digital Turbine Inc. [NASDAQ: APPS] plunged -1.29% to $11.46. The stock’s lowest price that day was $11.26, but it reached a high of $11.81 in the same session. During the last five days, there has been a drop of approximately -14.09%. Over the course of the year, Digital Turbine Inc. shares have dropped approximately -24.80%. Shares of the company reached a 52-week high of $18.76 on 02/02/23 and a 52-week low of $11.26 on 02/23/23. A 50-day SMA is recorded $15.25, while a 200-day SMA reached $17.59. Nevertheless, trading volume fell to 1.84 million shares from 1.97 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 11.21, which, if violated, would cause prices to drop to 10.96. In the upper region, resistance lies at 11.76. The next price resistance is at 12.06. RSI (Relative Strength Index) is 32.66 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.05, which suggests the price will decrease in the coming days. Percent R is at 97.03%, 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 Jan 12, 2023 jumping by 0.24 million shares to 5.4 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 5.16 million shares. A jump of 4.44% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.96 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.96.

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

According to BlackRock Fund Advisors filings, the company currently owns 13,911,501 shares, which is about 14.05% of the total APPS shares outstanding. The investor’s shares have appreciated by 844,670 from its previous 13-F filing of 13066831.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $181,917,141. Granahan Investment Management, L acquire a 7.60% interest valued at $59.73 million while SSgA Funds Management, Inc. purchased a 159,973 stake. A total of 651,464 shares of Digital Turbine Inc. were bought by American Century Investment Manag during the quarter, and 1,114,004 were bought by D. E. Shaw & Co. LP. In its current portfolio, Rice, Hall, James & Associates LL holds 1,874,488 shares valued at $32.54 million.

In terms of Digital Turbine Inc. share price expectations, FactSet research, analysts set an average price target of $16.20 in the next 12 months, up nearly 29.2% from the previous closing price of $11.61. Analysts anticipate Digital Turbine Inc. stock to reach $25.00 by 2023, with the lowest price target being $12.00. In spite of this, 6 analysts ranked Digital Turbine Inc. stock as an Overweight at the end of 2023. On June 29, 2022, B. Riley Securities assigned a price target of “a Buy” to the stock and initiated coverage with a $29.


Please enter your comment!
Please enter your name here