Invst LLC Acquires 2,254 Shares of AppLovin Co. (NASDAQ:APP)

Invst LLC boosted its holdings in AppLovin Co. (NASDAQ:APP) by 68.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,528 shares of the company’s stock after acquiring an additional 2,254 shares during the quarter. Invst LLC’s holdings in AppLovin were worth $469,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Treasurer of the State of North Carolina grew its stake in AppLovin by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 96,140 shares of the company’s stock worth $3,831,000 after buying an additional 807 shares during the last quarter. FinTrust Capital Advisors LLC bought a new stake in AppLovin during the fourth quarter worth about $32,000. Cunning Capital Partners LP bought a new stake in AppLovin during the fourth quarter worth about $1,508,000. Blueshift Asset Management LLC bought a new stake in AppLovin during the fourth quarter worth about $409,000. Finally, First Trust Advisors LP grew its stake in AppLovin by 42.6% during the fourth quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock worth $91,605,000 after buying an additional 686,258 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

APP opened at $130.55 on Tuesday. The company has a fifty day simple moving average of $93.36 and a 200 day simple moving average of $83.34. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The stock has a market cap of $42.95 billion, a P/E ratio of 77.71, a P/E/G ratio of 1.82 and a beta of 1.88. AppLovin Co. has a 12 month low of $34.45 and a 12 month high of $133.05.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $0.22 earnings per share. AppLovin’s revenue was up 44.0% compared to the same quarter last year. On average, research analysts expect that AppLovin Co. will post 3.46 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. BTIG Research upped their target price on shares of AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and upped their target price for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Jefferies Financial Group upped their target price on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Wedbush reduced their target price on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Benchmark upped their target price on shares of AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.44.

Insider Buying and Selling at AppLovin

In other news, Director Eduardo Vivas sold 118,839 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the completion of the sale, the director now owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Eduardo Vivas sold 118,839 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the sale, the director now directly owns 7,641,531 shares in the company, valued at $693,468,938.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now owns 352,616 shares of the company’s stock, valued at $31,728,387.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 728,933 shares of company stock valued at $61,807,117. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Profile

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.