AppLovin Co. (NASDAQ:APP) Stake Reduced by Amalgamated Bank

Amalgamated Bank trimmed its stake in AppLovin Co. (NASDAQ:APP) by 1.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 17,401 shares of the company’s stock after selling 324 shares during the quarter. Amalgamated Bank’s holdings in AppLovin were worth $2,272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. DT Investment Partners LLC bought a new position in shares of AppLovin in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in AppLovin in the third quarter worth approximately $29,000. Quest Partners LLC acquired a new stake in AppLovin in the second quarter worth approximately $33,000. Oliver Lagore Vanvalin Investment Group bought a new position in AppLovin during the 2nd quarter valued at $34,000. Finally, Covestor Ltd increased its position in shares of AppLovin by 85.8% during the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other AppLovin 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 transaction, the director now owns 10,247 shares in the company, valued at $900,711.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Katie Kihorany Jansen sold 72,306 shares of AppLovin stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $83.71, for a total value of $6,052,735.26. Following the completion of the transaction, the chief marketing officer now owns 1,092,090 shares in the company, valued at approximately $91,418,853.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 477,172 shares of company stock worth $40,723,512. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $286.43 on Tuesday. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $292.86. The company has a market cap of $95.74 billion, a PE ratio of 86.80, a price-to-earnings-growth ratio of 4.18 and a beta of 1.86. The business’s 50 day moving average price is $143.14 and its two-hundred day moving average price is $103.05. The company has a quick ratio of 2.28, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. 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 business posted $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. On average, analysts predict that AppLovin Co. will post 3.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on APP shares. The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and upped their price target for the company from $103.00 to $150.00 in a report on Monday, October 14th. Benchmark restated a “sell” rating and set a $66.00 target price on shares of AppLovin in a report on Thursday, November 7th. Wells Fargo & Company assumed coverage on shares of AppLovin in a research report on Monday, October 28th. They issued an “overweight” rating and a $200.00 price target on the stock. Citigroup increased their price objective on AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Oppenheimer lifted their target price on AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $194.31.

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.