Massachusetts Financial Services Co. MA Grows Stock Holdings in AppLovin Co. (NASDAQ:APP)

Massachusetts Financial Services Co. MA increased its stake in AppLovin Co. (NASDAQ:APP) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 186,395 shares of the company’s stock after buying an additional 5,483 shares during the period. Massachusetts Financial Services Co. MA owned 0.06% of AppLovin worth $15,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in APP. Precision Wealth Strategies LLC bought a new position in shares of AppLovin during the fourth quarter valued at $324,000. Norges Bank bought a new stake in AppLovin during the 4th quarter valued at about $43,973,000. Clearbridge Investments LLC raised its holdings in AppLovin by 3.1% in the fourth quarter. Clearbridge Investments LLC now owns 63,032 shares of the company’s stock worth $2,512,000 after buying an additional 1,918 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of AppLovin by 154.9% in the fourth quarter. Franklin Resources Inc. now owns 235,187 shares of the company’s stock worth $9,372,000 after buying an additional 142,938 shares in the last quarter. Finally, Contrarius Investment Management Ltd purchased a new stake in shares of AppLovin during the fourth quarter valued at approximately $7,334,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Victoria Valenzuela sold 47,001 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $85.06, for a total value of $3,997,905.06. Following the transaction, the insider now directly owns 390,615 shares of the company’s stock, valued at approximately $33,225,711.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 775,934 shares of company stock valued at $65,805,022. 14.69% of the stock is owned by corporate insiders.

AppLovin Trading Up 1.7 %

Shares of AppLovin stock opened at $126.09 on Friday. AppLovin Co. has a 1-year low of $34.45 and a 1-year high of $128.19. The company’s fifty day simple moving average is $87.10 and its 200-day simple moving average is $79.83. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a market capitalization of $41.49 billion, a PE ratio of 75.05, a P/E/G ratio of 1.41 and a beta of 1.88.

AppLovin (NASDAQ:APP) last released its quarterly earnings results 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. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The business 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 company posted $0.22 earnings per share. AppLovin’s revenue for the quarter was up 44.0% on a year-over-year basis. As a group, equities analysts anticipate that AppLovin Co. will post 3.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on APP. Jefferies Financial Group upped their price objective on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and upped their price target for the company from $100.00 to $145.00 in a report on Tuesday. Benchmark lifted their price objective on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. Bank of America upped their target price on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Wedbush reduced their price target on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.09.

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.