Vanguard Personalized Indexing Management LLC Acquires 2,821 Shares of AppLovin Co. (NASDAQ:APP)

Vanguard Personalized Indexing Management LLC raised its holdings in AppLovin Co. (NASDAQ:APP) by 12.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,951 shares of the company’s stock after acquiring an additional 2,821 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in AppLovin were worth $2,076,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FinTrust Capital Advisors LLC acquired a new position in AppLovin during the fourth quarter valued at approximately $32,000. Quest Partners LLC acquired a new position in AppLovin during the second quarter valued at approximately $33,000. Covestor Ltd boosted its position in AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in AppLovin during the second quarter valued at approximately $37,000. Finally, Atlas Capital Advisors LLC acquired a new position in AppLovin during the first quarter valued at approximately $38,000. 41.85% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Victoria Valenzuela sold 47,001 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $85.06, for a total value of $3,997,905.06. Following the sale, the insider now owns 390,615 shares in the company, valued at $33,225,711.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other AppLovin news, insider Victoria Valenzuela sold 47,001 shares of AppLovin stock in a transaction on Monday, July 1st. The shares were sold at an average price of $85.06, for a total value of $3,997,905.06. Following the sale, the insider now directly owns 390,615 shares in the company, valued at approximately $33,225,711.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares in the company, valued at $900,711.30. The disclosure for this sale can be found here. Insiders have sold a total of 775,934 shares of company stock worth $65,805,022 over the last 90 days. 14.69% of the stock is currently owned by insiders.

AppLovin Stock Up 1.7 %

Shares of NASDAQ:APP opened at $126.09 on Friday. The firm has a fifty day moving average of $87.10 and a 200 day moving average of $79.83. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. AppLovin Co. has a 52-week low of $34.45 and a 52-week high of $128.19. The firm has a market capitalization of $41.49 billion, a PE ratio of 75.05, a price-to-earnings-growth ratio of 1.41 and a beta of 1.88.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the business posted $0.22 earnings per share. AppLovin’s revenue for the quarter was up 44.0% on a year-over-year basis. As a group, research analysts anticipate that AppLovin Co. will post 3.46 EPS for the current fiscal year.

Analysts Set New Price Targets

APP has been the topic of several research analyst reports. BTIG Research upped their price objective on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Oppenheimer restated an “outperform” rating and issued a $105.00 price objective (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Benchmark increased their target price on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research note on Friday, August 23rd. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and increased their target price for the stock from $100.00 to $145.00 in a research note on Tuesday. Finally, Bank of America increased their target price on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.09.

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.