Insider Selling: STONE WILLIAM GORDON III, Digital Turbine Inc. [APPS] Chief Executive Officer divested 36,025 shares


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Digital Turbine Inc. shares valued at $387,269 were sold by STONE WILLIAM GORDON III on Mar 02. At $10.75 per share, STONE WILLIAM GORDON III sold 36,025 shares. The insider’s holdings dropped to 1,682,789 shares worth approximately $18.11 million following the completion of this transaction.

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Also, DEUTSCHMAN ROBERT M purchased 15,000 shares, netting a total of over 474,900 in proceeds. Following the buying of shares at $31.66 each, the insider now holds 416,044 shares.

Before that, STERLING MICHELLE M had added 1,000 shares to its account. In a trade valued at $36,790, the Director bought Digital Turbine Inc. shares for $36.79 each. Upon closing the transaction, the insider’s holdings increased to 1,000 shares, worth approximately $0.19 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 10.33% 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 -0.92% to $10.76. The stock’s lowest price that day was $10.505, but it reached a high of $10.855 in the same session. During the last five days, there has been a drop of approximately -6.11%. Over the course of the year, Digital Turbine Inc. shares have dropped approximately -29.40%. Shares of the company reached a 52-week high of $18.76 on 02/02/23 and a 52-week low of $10.51 on 03/02/23. A 50-day SMA is recorded $14.72, while a 200-day SMA reached $17.24. Nevertheless, trading volume fell to 1.97 million shares from 1.52 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 10.56, which, if violated, would cause prices to drop to 10.37. In the upper region, resistance lies at 10.90. The next price resistance is at 11.05. RSI (Relative Strength Index) is 30.67 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.02, which suggests the price will decrease in the coming days. Percent R is at 91.80%, 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 38.12% from the previous closing price of $10.86. 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.


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