AppLovin Co. (NASDAQ:APP) Stake Lifted by Bleakley Financial Group LLC

Bleakley Financial Group LLC raised its stake in AppLovin Co. (NASDAQ:APP) by 87.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 9,648 shares of the company’s stock after buying an additional 4,503 shares during the quarter. Bleakley Financial Group LLC’s holdings in AppLovin were worth $1,260,000 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 APP. Wellington Management Group LLP grew its holdings in shares of AppLovin by 1,642.4% during the 4th quarter. Wellington Management Group LLP now owns 182,033 shares of the company’s stock valued at $7,254,000 after acquiring an additional 171,586 shares in the last quarter. GAMMA Investing LLC increased its position in shares of AppLovin by 13.6% during the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock valued at $89,000 after purchasing an additional 154 shares during the period. Gulf International Bank UK Ltd acquired a new position in shares of AppLovin in the first quarter valued at $1,131,000. Steph & Co. bought a new position in AppLovin in the first quarter worth $92,000. Finally, Annex Advisory Services LLC bought a new stake in AppLovin in the 1st quarter valued at $11,645,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on APP. Oppenheimer reissued an “outperform” rating and issued a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. Citigroup increased their target price on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Jefferies Financial Group boosted their price target on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Bank of America lifted their price objective on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and increased their target price for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $110.01.

Insider Buying and Selling at AppLovin

In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction 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 completion of the sale, the chief marketing officer now owns 1,164,396 shares of the company’s stock, valued at $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the completion of the transaction, the chief financial officer now owns 254,458 shares of the company’s stock, valued at $20,262,490.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin 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 completion of the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at $88,121,489.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 610,094 shares of company stock valued at $51,022,478. Corporate insiders own 14.69% of the company’s stock.

AppLovin Trading Up 1.6 %

APP stock opened at $145.22 on Monday. The business has a fifty day moving average of $111.99 and a 200-day moving average of $90.40. The company has a market cap of $47.78 billion, a P/E ratio of 86.44, a PEG ratio of 2.07 and a beta of 1.92. AppLovin Co. has a twelve month low of $34.45 and a twelve month high of $148.48. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP) last released its 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 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 analyst estimates of $1.08 billion. During the same quarter in the previous year, the business earned $0.22 EPS. The business’s quarterly revenue was up 44.0% compared to the same quarter last year. As a group, equities research analysts expect that AppLovin Co. will post 3.46 EPS for the current year.

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.