Commerce Bank Grows Stock Position in AppLovin Co. (NASDAQ:APP)

Commerce Bank grew its position in AppLovin Co. (NASDAQ:APP) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,782 shares of the company’s stock after acquiring an additional 221 shares during the quarter. Commerce Bank’s holdings in AppLovin were worth $1,146,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC purchased a new position in AppLovin during the third quarter worth approximately $27,000. Meeder Asset Management Inc. purchased a new position in AppLovin during the third quarter worth approximately $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin during the third quarter worth approximately $29,000. Finally, Quest Partners LLC purchased a new position in AppLovin during the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on APP. Wedbush reiterated an “outperform” rating and set a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Stifel Nicolaus lifted their price objective on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Macquarie lifted their price objective on AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Oppenheimer lifted their target price on AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Bank of America lifted their target price on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.96.

AppLovin Trading Up 4.7 %

Shares of NASDAQ APP opened at $333.31 on Monday. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $342.51. 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 stock has a fifty day simple moving average of $181.30 and a 200-day simple moving average of $117.71. The stock has a market capitalization of $111.86 billion, a PE ratio of 101.00, a PEG ratio of 3.92 and a beta of 1.86.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm posted $0.30 EPS. AppLovin’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, equities analysts forecast that AppLovin Co. will post 4.05 earnings per share for the current year.

Insider Buying and Selling

In other AppLovin news, CFO Matthew Stumpf sold 21,101 shares of AppLovin stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the completion of the sale, the chief financial officer now directly owns 213,336 shares of the company’s stock, valued at $70,970,487.12. The trade was a 9.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Vasily Shikin sold 154,500 shares of AppLovin stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.14, for a total value of $12,999,630.00. Following the sale, the chief technology officer now directly owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 854,065 shares of company stock valued at $233,072,408 in the last three months. 14.69% of the stock is owned by corporate insiders.

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.