Private Advisor Group LLC Raises Stock Holdings in AppLovin Co. (NASDAQ:APP)

Private Advisor Group LLC boosted its holdings in shares of AppLovin Co. (NASDAQ:APP) by 58.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,291 shares of the company’s stock after purchasing an additional 4,147 shares during the quarter. Private Advisor Group LLC’s holdings in AppLovin were worth $1,474,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of APP. Fred Alger Management LLC purchased a new position in AppLovin during the second quarter worth approximately $290,655,000. Whale Rock Capital Management LLC purchased a new position in AppLovin during the first quarter worth approximately $195,129,000. Jericho Capital Asset Management L.P. boosted its position in AppLovin by 185.0% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after purchasing an additional 2,525,240 shares in the last quarter. 1832 Asset Management L.P. boosted its position in AppLovin by 977.2% during the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after purchasing an additional 1,357,400 shares in the last quarter. Finally, Jackson Square Partners LLC purchased a new position in AppLovin during the first quarter worth approximately $54,736,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Jefferies Financial Group increased their target price on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Stifel Nicolaus increased their target price on AppLovin from $100.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Loop Capital assumed coverage on AppLovin in a report on Tuesday, October 22nd. They set a “buy” rating and a $181.00 target price for the company. Bank of America increased their target price on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Macquarie reissued an “outperform” rating and set a $150.00 target price (up previously from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.78.

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total value of $5,472,193.76. Following the completion of the transaction, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction 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 owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock worth $51,022,478 over the last ninety days. Company insiders own 14.69% of the company’s stock.

AppLovin Trading Down 0.3 %

Shares of AppLovin stock opened at $171.65 on Thursday. The firm has a market capitalization of $57.37 billion, a price-to-earnings ratio of 73.04, a PEG ratio of 2.07 and a beta of 1.92. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $174.46. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a 50 day moving average of $124.66 and a 200 day moving average of $95.19.

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

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.