Blair William & Co. IL Reduces Holdings in AppLovin Co. (NASDAQ:APP)

Blair William & Co. IL reduced its stake in shares of AppLovin Co. (NASDAQ:APP) by 8.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,705 shares of the company’s stock after selling 14,365 shares during the period. Blair William & Co. IL’s holdings in AppLovin were worth $13,624,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APP. Marsico Capital Management LLC acquired a new position in AppLovin in the 2nd quarter valued at about $5,041,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of AppLovin by 12.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 24,951 shares of the company’s stock worth $2,076,000 after buying an additional 2,821 shares in the last quarter. Amalgamated Bank raised its position in shares of AppLovin by 44.9% in the second quarter. Amalgamated Bank now owns 17,725 shares of the company’s stock valued at $1,475,000 after buying an additional 5,490 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of AppLovin during the second quarter valued at approximately $224,000. Finally, Mercer Global Advisors Inc. ADV boosted its position in AppLovin by 13.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,352 shares of the company’s stock worth $933,000 after acquiring an additional 1,355 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wedbush cut their price target on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Citigroup upped their target price on AppLovin from $110.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and raised their price target for the stock from $100.00 to $145.00 in a research note on Tuesday. BTIG Research upped their price objective on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Oppenheimer reissued an “outperform” rating and issued a $105.00 target price (up from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $103.09.

AppLovin Stock Up 0.7 %

Shares of AppLovin stock opened at $124.00 on Friday. AppLovin Co. has a twelve month low of $34.45 and a twelve month high of $128.19. The stock has a market cap of $40.80 billion, a price-to-earnings ratio of 73.81, a price-to-earnings-growth ratio of 1.41 and a beta of 1.88. 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 company has a fifty day moving average price of $86.26 and a 200 day moving average price of $79.52.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, topping 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 firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company posted $0.22 EPS. AppLovin’s revenue for the quarter was up 44.0% on a year-over-year basis. Equities research analysts forecast that AppLovin Co. will post 3.46 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 47,001 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $85.06, for a total value of $3,997,905.06. Following the transaction, the insider now owns 390,615 shares in the company, valued at approximately $33,225,711.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AppLovin news, insider Victoria Valenzuela sold 47,001 shares of AppLovin stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the sale, the insider now directly owns 390,615 shares in the company, valued at approximately $33,225,711.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Vivas sold 118,839 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $90.75, for a total value of $10,784,639.25. Following the transaction, the director now owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The disclosure for this sale can be found here. In the last three months, insiders sold 775,934 shares of company stock valued at $65,805,022. Corporate insiders own 14.69% of the company’s stock.

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.