AppLovin Co. (NASDAQ:APP) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC lifted its stake in AppLovin Co. (NASDAQ:APP) by 36.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 18,120 shares of the company’s stock after acquiring an additional 4,822 shares during the quarter. Cerity Partners LLC’s holdings in AppLovin were worth $2,366,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of APP. B. Riley Wealth Advisors Inc. acquired a new stake in AppLovin during the 1st quarter worth approximately $474,000. Tidal Investments LLC purchased a new position in shares of AppLovin during the 1st quarter worth approximately $236,000. Swedbank AB purchased a new stake in shares of AppLovin during the 1st quarter worth $870,000. Cetera Advisors LLC acquired a new position in AppLovin during the first quarter worth about $675,000. Finally, DekaBank Deutsche Girozentrale increased its stake in AppLovin by 4,123.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 128,222 shares of the company’s stock valued at $8,726,000 after purchasing an additional 125,186 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Price Performance

Shares of NASDAQ APP opened at $336.75 on Monday. The business has a 50 day simple moving average of $201.91 and a 200-day simple moving average of $126.00. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $344.77. The company has a market capitalization of $113.01 billion, a price-to-earnings ratio of 102.05, a price-to-earnings-growth ratio of 4.15 and a beta of 1.86. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm posted $0.30 EPS. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. As a group, equities research analysts expect that AppLovin Co. will post 4.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on APP shares. Macquarie increased their price target on shares of AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Loop Capital boosted their price objective on shares of AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Bank of America increased their target price on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Wells Fargo & Company upped their price target on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $265.57.

Insider Buying and Selling

In related news, Director Craig Scott Billings sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the sale, the director now directly owns 2,987 shares in the company, valued at $952,673.78. This trade represents a 85.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction 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 transaction, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. This trade represents a 12.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 884,395 shares of company stock valued at $243,101,629. Insiders own 14.69% of the company’s stock.

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.