Intech Investment Management LLC Raises Stake in AppLovin Co. (NASDAQ:APP)

Intech Investment Management LLC raised its position in AppLovin Co. (NASDAQ:APP) by 95.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,779 shares of the company’s stock after purchasing an additional 11,102 shares during the period. Intech Investment Management LLC’s holdings in AppLovin were worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC purchased a new position in AppLovin in the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of AppLovin during the 2nd quarter worth about $37,000. Summit Securities Group LLC purchased a new stake in AppLovin during the second quarter worth approximately $42,000. Covestor Ltd boosted its holdings in AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares in the last quarter. Finally, Atlas Capital Advisors LLC acquired a new position in AppLovin in the first quarter valued at approximately $38,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

APP has been the subject of several recent analyst reports. Citigroup boosted their price objective on shares of AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Bank of America raised their price objective on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Wedbush cut their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. UBS Group upgraded 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, September 17th. Finally, BTIG Research boosted their price objective on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.09.

Insider Activity

In related news, insider Victoria Valenzuela sold 47,001 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the sale, the insider now owns 390,615 shares of the company’s stock, valued at $33,225,711.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CTO Vasily Shikin sold 154,500 shares of AppLovin stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the transaction, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at approximately $381,192,483.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Victoria Valenzuela sold 47,001 shares of the stock in a transaction dated Monday, July 1st. The shares were 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 $33,225,711.90. The disclosure for this sale can be found here. Insiders sold 775,934 shares of company stock worth $65,805,022 in the last 90 days. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Trading Up 0.0 %

Shares of AppLovin stock opened at $126.12 on Tuesday. The firm has a market cap of $41.50 billion, a price-to-earnings ratio of 75.07, a price-to-earnings-growth ratio of 1.41 and a beta of 1.88. AppLovin Co. has a 52-week low of $34.45 and a 52-week high of $128.19. The company’s 50-day simple moving average is $88.69 and its 200-day simple moving average is $80.97. 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 earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) 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 business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business posted $0.22 EPS. The company’s revenue for the quarter was up 44.0% on a year-over-year basis. As a group, equities research 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.