AppLovin Co. (NASDAQ:APP) Stake Raised by Vontobel Holding Ltd.

Vontobel Holding Ltd. lifted its holdings in shares of AppLovin Co. (NASDAQ:APP) by 5.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,178 shares of the company’s stock after buying an additional 708 shares during the period. Vontobel Holding Ltd.’s holdings in AppLovin were worth $1,720,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in AppLovin during the 2nd quarter worth $33,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of AppLovin during the second quarter valued at about $34,000. Covestor Ltd lifted its holdings in AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in AppLovin in the 2nd quarter valued at about $37,000. Finally, Atlas Capital Advisors LLC acquired a new position in AppLovin during the 1st quarter valued at about $38,000. 41.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. BTIG Research increased their price objective on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 13th. Jefferies Financial Group lifted their price target on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and upped their price objective for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Wedbush lowered their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Citigroup upped their price target on shares of AppLovin from $110.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.01.

Insider Activity

In related news, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the sale, the director now directly owns 7,412,475 shares in the company, valued at $640,067,216.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the chief marketing officer now owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 610,094 shares of company stock worth $51,022,478 in the last 90 days. Company insiders own 14.69% of the company’s stock.

AppLovin Trading Up 1.6 %

AppLovin stock opened at $145.22 on Friday. AppLovin Co. has a 52 week low of $34.45 and a 52 week high of $148.48. 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 firm has a market capitalization of $47.78 billion, a price-to-earnings ratio of 86.44, a P/E/G ratio of 2.07 and a beta of 1.92. The company has a 50 day moving average price of $111.99 and a 200 day moving average price of $90.27.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. AppLovin’s revenue for the quarter was up 44.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. Research analysts forecast 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.