AppLovin Co. (NASDAQ:APP) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP grew its holdings in AppLovin Co. (NASDAQ:APP) by 1,642.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,033 shares of the company’s stock after acquiring an additional 171,586 shares during the period. Wellington Management Group LLP owned about 0.05% of AppLovin worth $7,254,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of APP. Tucker Asset Management LLC purchased a new stake in shares of AppLovin during the 4th quarter worth $181,000. EP Wealth Advisors LLC lifted its position in shares of AppLovin by 22.0% during the 4th quarter. EP Wealth Advisors LLC now owns 10,204 shares of the company’s stock worth $407,000 after purchasing an additional 1,840 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of AppLovin during the 4th quarter worth $764,000. American Trust purchased a new stake in shares of AppLovin during the 4th quarter worth $215,000. Finally, Quarry LP purchased a new stake in shares of AppLovin during the 4th quarter worth $44,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Up 0.1 %

APP stock opened at $83.22 on Friday. The company’s 50 day simple moving average is $79.14 and its 200-day simple moving average is $62.91. The firm has a market capitalization of $27.38 billion, a PE ratio of 49.54, a P/E/G ratio of 1.36 and a beta of 1.88. AppLovin Co. has a 12 month low of $25.11 and a 12 month high of $88.50. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $973.70 million. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The company’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.01) earnings per share. Equities analysts expect that AppLovin Co. will post 2.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. The Goldman Sachs Group boosted their price target on shares of AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Wedbush boosted their price target on shares of AppLovin from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Oppenheimer reissued an “outperform” rating and issued a $97.00 price target on shares of AppLovin in a research report on Thursday, June 13th. Finally, BTIG Research boosted their price target on shares of AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.72.

Insider Activity at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 147,984 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $82.29, for a total transaction of $12,177,603.36. Following the transaction, the chief marketing officer now owns 1,264,284 shares of the company’s stock, valued at $104,037,930.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other AppLovin news, CMO Katie Kihorany Jansen sold 147,984 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $82.29, for a total transaction of $12,177,603.36. Following the transaction, the chief marketing officer now owns 1,264,284 shares of the company’s stock, valued at $104,037,930.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Craig Scott Billings sold 5,620 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $84.97, for a total transaction of $477,531.40. Following the transaction, the director now directly owns 1,780 shares in the company, valued at approximately $151,246.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,741,886 shares of company stock valued at $1,478,219,330. Company insiders own 14.69% of the company’s stock.

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.