Creative Planning Has $18.91 Million Stock Position in AppLovin Co. (NASDAQ:APP)

Creative Planning lifted its position in shares of AppLovin Co. (NASDAQ:APP) by 251.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 144,883 shares of the company’s stock after buying an additional 103,628 shares during the quarter. Creative Planning’s holdings in AppLovin were worth $18,914,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of APP. Wellington Management Group LLP raised its stake in AppLovin by 1,642.4% in the fourth quarter. Wellington Management Group LLP now owns 182,033 shares of the company’s stock valued at $7,254,000 after purchasing an additional 171,586 shares in the last quarter. GAMMA Investing LLC raised its stake in AppLovin by 13.6% in 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 in the last quarter. Atlas Capital Advisors LLC acquired a new position in AppLovin in the first quarter valued at about $38,000. Sunbelt Securities Inc. acquired a new position in AppLovin in the first quarter valued at about $146,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in AppLovin by 39.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,563 shares of the company’s stock valued at $4,746,000 after purchasing an additional 19,381 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $158.85 on Tuesday. The stock has a market cap of $52.26 billion, a P/E ratio of 94.55, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The stock’s 50-day moving average is $113.67 and its 200-day moving average is $91.00. AppLovin Co. has a 1-year low of $34.45 and a 1-year high of $159.81.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the business posted $0.22 earnings per share. The firm’s revenue was up 44.0% on a year-over-year basis. Equities research analysts anticipate that AppLovin Co. will post 3.46 earnings per share for the current year.

Insider Activity at AppLovin

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

Analyst Ratings Changes

APP has been the subject of a number of analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and lifted their target price for the company from $103.00 to $150.00 in a research report on Monday, October 14th. Benchmark lifted their target price on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research report on Friday, August 23rd. Wedbush decreased their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $110.01.

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.