Versant Capital Management Inc Has $104,000 Stake in AppLovin Co. (NASDAQ:APP)

Versant Capital Management Inc increased its position in AppLovin Co. (NASDAQ:APP) by 19.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 322 shares of the company’s stock after purchasing an additional 53 shares during the quarter. Versant Capital Management Inc’s holdings in AppLovin were worth $104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of APP. Townsquare Capital LLC lifted its position in shares of AppLovin by 64.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after buying an additional 3,126 shares during the period. Second Half Financial Partners LLC acquired a new stake in shares of AppLovin in the 3rd quarter valued at $224,000. State Street Corp grew its holdings in shares of AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management lifted its holdings in AppLovin by 328.1% during the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after purchasing an additional 81,331 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the sale, the chief financial officer now owns 207,649 shares in the company, valued at approximately $76,032,757.84. The trade was a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on APP shares. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and increased their price target for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. Macquarie increased their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Bank of America increased their price objective on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.71.

AppLovin Price Performance

AppLovin stock opened at $350.65 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $117.68 billion, a P/E ratio of 106.26, a PEG ratio of 4.17 and a beta of 2.28. The business has a 50-day moving average of $302.03 and a 200-day moving average of $171.60. AppLovin Co. has a 1 year low of $37.40 and a 1 year high of $417.64.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 earnings per share. On average, equities analysts anticipate that AppLovin Co. will post 4.06 EPS for the current year.

About AppLovin

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.