1,332 Shares in AppLovin Co. (NASDAQ:APP) Acquired by Steph & Co.

Steph & Co. bought a new position in shares of AppLovin Co. (NASDAQ:APP) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,332 shares of the company’s stock, valued at approximately $92,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of AppLovin by 8.5% during the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock worth $723,245,000 after acquiring an additional 1,411,453 shares in the last quarter. Sapient Capital LLC purchased a new stake in shares of AppLovin during the 4th quarter valued at $165,057,000. First Trust Advisors LP boosted its position in shares of AppLovin by 42.6% in the 4th quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock worth $91,605,000 after purchasing an additional 686,258 shares in the last quarter. Ameriprise Financial Inc. grew its stake in AppLovin by 4,805.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock worth $56,050,000 after buying an additional 1,374,066 shares during the last quarter. Finally, Norges Bank purchased a new position in AppLovin during the 4th quarter worth $43,973,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

APP opened at $78.05 on Tuesday. The stock has a market cap of $25.68 billion, a P/E ratio of 46.46, a P/E/G ratio of 1.30 and a beta of 1.88. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a fifty day moving average price of $78.16 and a 200 day moving average price of $62.01. AppLovin Co. has a 1 year low of $23.48 and a 1 year high of $88.50.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $973.70 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The company’s revenue was up 47.9% compared to the same quarter last year. Equities research analysts anticipate that AppLovin Co. will post 2.96 earnings per share for the current year.

Wall Street Analyst Weigh In

APP has been the subject of several recent analyst reports. TheStreet raised AppLovin from a “d+” rating to a “c-” rating in a report on Friday, March 8th. Citigroup boosted their target price on shares of AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Jefferies Financial Group raised their price target on shares of AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. The Goldman Sachs Group boosted their price objective on shares of AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Oppenheimer restated an “outperform” rating and issued a $97.00 target price on shares of AppLovin in a research note on Thursday, June 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $71.72.

Insider Activity

In other news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $83.36, for a total transaction of $1,458,800,000.00. Following the transaction, the insider now owns 366,567 shares in the company, valued at approximately $30,557,025.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other AppLovin news, insider Victoria Valenzuela sold 11,276 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $75.71, for a total transaction of $853,705.96. Following the completion of the sale, the insider now directly owns 437,214 shares in the company, valued at approximately $33,101,471.94. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $83.36, for a total value of $1,458,800,000.00. Following the completion of the transaction, the insider now owns 366,567 shares in the company, valued at approximately $30,557,025.12. The disclosure for this sale can be found here. Insiders sold 17,741,886 shares of company stock worth $1,478,219,330 over the last three months. 14.69% of the stock is currently owned by corporate insiders.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.