American Trust Has $668,000 Stock Holdings in AppLovin Co. (NASDAQ:APP)

American Trust grew its position in shares of AppLovin Co. (NASDAQ:APP) by 44.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,030 shares of the company’s stock after acquiring an additional 2,480 shares during the quarter. American Trust’s holdings in AppLovin were worth $668,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in APP. Sanctuary Advisors LLC acquired a new position in AppLovin during the second quarter worth $241,000. Clearbridge Investments LLC increased its position in shares of AppLovin by 73.0% in the second quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock valued at $74,344,000 after acquiring an additional 376,835 shares during the last quarter. Dana Investment Advisors Inc. raised its holdings in AppLovin by 5.6% during the second quarter. Dana Investment Advisors Inc. now owns 11,438 shares of the company’s stock worth $952,000 after acquiring an additional 604 shares in the last quarter. Cetera Investment Advisers boosted its position in AppLovin by 115.3% during the second quarter. Cetera Investment Advisers now owns 30,619 shares of the company’s stock valued at $2,548,000 after purchasing an additional 16,397 shares during the last quarter. Finally, Truist Financial Corp grew its stake in AppLovin by 510.9% in the second quarter. Truist Financial Corp now owns 27,697 shares of the company’s stock valued at $2,305,000 after purchasing an additional 23,163 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Up 0.1 %

APP opened at $130.65 on Wednesday. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a fifty day moving average of $94.30 and a 200-day moving average of $83.81. AppLovin Co. has a fifty-two week low of $34.45 and a fifty-two week high of $133.05. The company has a market capitalization of $42.99 billion, a P/E ratio of 77.77, a P/E/G ratio of 1.82 and a beta of 1.88.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm posted $0.22 EPS. The business’s revenue for the quarter was up 44.0% compared to the same quarter last year. On average, equities analysts expect that AppLovin Co. will post 3.46 EPS for the current year.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the sale, the insider now directly owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the transaction, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eduardo Vivas sold 118,839 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the sale, the director now owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. The disclosure for this sale can be found here. Insiders have sold a total of 728,933 shares of company stock worth $61,807,117 in the last 90 days. Company insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of analyst reports. Bank of America upped their price objective on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Citigroup increased their price target on shares of AppLovin from $110.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Benchmark boosted their price objective on shares of AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research note on Friday, August 23rd. BTIG Research raised their target price on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Oppenheimer reiterated an “outperform” rating and set a $105.00 price target (up previously from $97.00) on shares of AppLovin in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.44.

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.