NewEdge Advisors LLC Increases Holdings in AppLovin Co. (NASDAQ:APP)

NewEdge Advisors LLC boosted its stake in shares of AppLovin Co. (NASDAQ:APP) by 13,831.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,176 shares of the company’s stock after buying an additional 21,024 shares during the period. NewEdge Advisors LLC’s holdings in AppLovin were worth $1,762,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in APP. Quest Partners LLC purchased a new stake in AppLovin in the second quarter valued at $33,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in AppLovin in the 2nd quarter valued at about $34,000. Covestor Ltd lifted its position in AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after buying an additional 236 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in AppLovin in the second quarter valued at about $37,000. Finally, Atlas Capital Advisors LLC purchased a new position in AppLovin during the first quarter worth about $38,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In related news, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the sale, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at $88,121,489.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now owns 10,247 shares in the company, valued at $900,711.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total value of $5,472,193.76. Following the transaction, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 610,094 shares of company stock worth $51,022,478. 14.69% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on APP shares. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their target price for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Jefferies Financial Group lifted their target price on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Bank of America increased their price target on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Benchmark lifted their price objective on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a report on Friday, August 23rd. Finally, Citigroup increased their target price on shares of AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $106.44.

AppLovin Stock Performance

Shares of APP opened at $139.66 on Friday. The company’s 50 day simple moving average is $97.77 and its 200-day simple moving average is $85.00. The firm has a market cap of $45.95 billion, a PE ratio of 83.13, a price-to-earnings-growth ratio of 1.82 and a beta of 1.92. AppLovin Co. has a 12-month low of $34.45 and a 12-month high of $140.02. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27.

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

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.