AppLovin Co. (NASDAQ:APP) Position Boosted by Stephens Inc. AR

Stephens Inc. AR increased its position in AppLovin Co. (NASDAQ:APP) by 56.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,620 shares of the company’s stock after purchasing an additional 2,387 shares during the period. Stephens Inc. AR’s holdings in AppLovin were worth $864,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fred Alger Management LLC bought a new stake in shares of AppLovin in the 2nd quarter valued at approximately $290,655,000. Whale Rock Capital Management LLC acquired a new stake in shares of AppLovin during the first quarter worth $195,129,000. Jericho Capital Asset Management L.P. lifted its position in shares of AppLovin by 185.0% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after buying an additional 2,525,240 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after buying an additional 1,357,400 shares during the period. Finally, Jackson Square Partners LLC bought a new stake in shares of AppLovin during the 1st quarter valued at about $54,736,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on APP. Jefferies Financial Group raised their target price on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. Loop Capital started coverage on shares of AppLovin in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 target price for the company. Stifel Nicolaus boosted their price target on shares of AppLovin from $100.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, BTIG Research increased their price objective on shares of AppLovin from $150.00 to $202.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $136.78.

Insider Activity

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’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 transaction, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock worth $51,022,478 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

APP stock opened at $165.18 on Wednesday. AppLovin Co. has a one year low of $35.79 and a one year high of $174.46. The firm has a 50-day moving average of $129.12 and a two-hundred day moving average of $97.33. The firm has a market capitalization of $55.21 billion, a PE ratio of 70.29, a P/E/G ratio of 2.36 and a beta of 1.86. The company has a current ratio of 2.28, a quick 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 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. The firm’s quarterly revenue was up 44.0% on a year-over-year basis. On average, analysts forecast that AppLovin Co. will post 3.47 earnings per share 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.