AppLovin Co. (NASDAQ:APP) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. grew its holdings in shares of AppLovin Co. (NASDAQ:APP) by 79.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,289 shares of the company’s stock after purchasing an additional 5,898 shares during the period. Edgestream Partners L.P.’s holdings in AppLovin were worth $1,106,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Precision Wealth Strategies LLC purchased a new stake in shares of AppLovin during the 4th quarter worth approximately $324,000. Norges Bank purchased a new stake in shares of AppLovin during the 4th quarter worth approximately $43,973,000. Clearbridge Investments LLC boosted its stake in shares of AppLovin by 3.1% during the 4th quarter. Clearbridge Investments LLC now owns 63,032 shares of the company’s stock worth $2,512,000 after acquiring an additional 1,918 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of AppLovin by 154.9% during the 4th quarter. Franklin Resources Inc. now owns 235,187 shares of the company’s stock worth $9,372,000 after acquiring an additional 142,938 shares in the last quarter. Finally, Contrarius Investment Management Ltd purchased a new stake in shares of AppLovin during the 4th quarter worth approximately $7,334,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 47,001 shares of the company’s stock in a transaction 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 completion of 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 legal filing with the SEC, which is available at this link. In other news, insider Victoria Valenzuela sold 47,001 shares of the company’s stock in a transaction 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 completion of 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 legal filing with the SEC, which is available at this link. Also, Director Eduardo Vivas sold 229,200 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the sale, the director now owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. The disclosure for this sale can be found here. Insiders have sold a total of 775,934 shares of company stock valued at $65,805,022 in the last quarter. 14.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on APP. Oppenheimer reissued an “outperform” rating and set a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Wedbush decreased their price target on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and upped their target price for the company from $100.00 to $145.00 in a research note on Tuesday. BTIG Research upped their target price on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Bank of America upped their target price on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $103.09.

AppLovin Trading Up 1.7 %

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

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

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.