Sequoia Financial Advisors LLC Takes Position in AppLovin Co. (NASDAQ:APP)

Sequoia Financial Advisors LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,156 shares of the company’s stock, valued at approximately $281,000.

Other hedge funds also recently made changes to their positions in the company. Fred Alger Management LLC bought a new stake in AppLovin during the second quarter valued at $290,655,000. Whale Rock Capital Management LLC bought a new stake in AppLovin during the first quarter valued at $195,129,000. Jericho Capital Asset Management L.P. lifted its stake in AppLovin by 185.0% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after purchasing an additional 2,525,240 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in AppLovin by 977.2% during the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after purchasing an additional 1,357,400 shares during the last quarter. Finally, Jackson Square Partners LLC bought a new stake in AppLovin during the first quarter worth about $54,736,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

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 transaction, the insider now directly owns 352,616 shares of the company’s stock, valued at $31,728,387.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction, the insider now directly owns 352,616 shares of the company’s stock, valued at $31,728,387.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s 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 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is owned by corporate insiders.

AppLovin Stock Performance

AppLovin stock opened at $166.19 on Tuesday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a market capitalization of $54.68 billion, a P/E ratio of 98.92, a PEG ratio of 2.07 and a beta of 1.92. The stock’s 50 day moving average is $121.33 and its 200 day moving average is $93.97. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $166.74.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. BTIG Research lifted their price target on AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and boosted their target price for the company from $103.00 to $150.00 in a research note on Monday, October 14th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and boosted their target price for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. Macquarie reissued an “outperform” rating and issued a $150.00 target price (up previously from $115.00) on shares of AppLovin in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. boosted their target price on AppLovin from $57.00 to $160.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.72.

AppLovin Company 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.