AppLovin Co. (NASDAQ:APP) Shares Purchased by IFM Investors Pty Ltd

IFM Investors Pty Ltd raised its holdings in AppLovin Co. (NASDAQ:APP) by 11.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,439 shares of the company’s stock after purchasing an additional 3,999 shares during the quarter. IFM Investors Pty Ltd’s holdings in AppLovin were worth $5,279,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in APP. Impact Partnership Wealth LLC purchased a new position in shares of AppLovin in the 3rd quarter valued at approximately $661,000. X Square Capital LLC purchased a new position in AppLovin in the 3rd quarter valued at $509,000. International Assets Investment Management LLC acquired a new position in AppLovin in the 3rd quarter valued at $56,410,000. Private Advisor Group LLC increased its stake in AppLovin by 58.0% in the 3rd quarter. Private Advisor Group LLC now owns 11,291 shares of the company’s stock valued at $1,474,000 after buying an additional 4,147 shares during the period. Finally, Segment Wealth Management LLC purchased a new position in AppLovin during the 3rd quarter worth $2,153,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CTO Vasily Shikin sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $86.04, for a total value of $473,220.00. Following the sale, the chief technology officer now directly owns 4,536,447 shares of the company’s stock, valued at approximately $390,315,899.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred 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 $900,711.30. This trade represents a 0.00 % decrease in their position. 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. 14.69% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

APP has been the topic of several analyst reports. Macquarie reaffirmed an “outperform” rating and issued a $150.00 target price (up previously from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Wedbush dropped 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. Oppenheimer raised their price target on AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday. Loop Capital began coverage on AppLovin in a report on Tuesday, October 22nd. They set a “buy” rating and a $181.00 price objective on the stock. Finally, Citigroup increased their price objective on AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.58.

AppLovin Price Performance

APP stock opened at $161.63 on Friday. The stock’s 50 day moving average price is $119.72 and its 200 day moving average price is $93.23. The firm has a market cap of $53.18 billion, a P/E ratio of 96.21, a PEG ratio of 2.07 and a beta of 1.92. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. AppLovin Co. has a 1 year low of $34.45 and a 1 year high of $165.38.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The business had revenue of $1.08 billion for 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 business’s revenue for the quarter was up 44.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 earnings per share. On average, sell-side analysts expect that AppLovin Co. will post 3.46 earnings per share for the current fiscal 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.