Assetmark Inc. Buys 5,480 Shares of AppLovin Co. (NASDAQ:APP)

Assetmark Inc. increased its stake in AppLovin Co. (NASDAQ:APP) by 131.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,637 shares of the company’s stock after acquiring an additional 5,480 shares during the period. Assetmark Inc.’s holdings in AppLovin were worth $1,258,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. HM Payson & Co. raised its position in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. GAMMA Investing LLC raised its holdings in AppLovin by 8.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock worth $217,000 after purchasing an additional 126 shares during the last quarter. American Trust boosted its stake in shares of AppLovin by 2.8% in the 1st quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after purchasing an additional 150 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of AppLovin by 1.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,627 shares of the company’s stock valued at $1,741,000 after purchasing an additional 157 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the 3rd quarter worth approximately $25,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the transaction, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 3.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 154,500 shares of AppLovin stock in a transaction on 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 represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 235,542 shares of company stock worth $32,012,275 over the last 90 days. Company insiders own 14.69% of the company’s stock.

AppLovin Trading Up 0.2 %

NASDAQ APP opened at $284.49 on Friday. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $302.55. 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 50 day moving average of $151.08 and a 200-day moving average of $105.82. The company has a market cap of $95.09 billion, a PE ratio of 86.05, a PEG ratio of 3.56 and a beta of 1.86.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 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 company’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 earnings per share. On average, equities research analysts anticipate that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Citigroup raised their price objective on shares of AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company started coverage on shares of AppLovin in a research note on Monday, October 28th. They issued an “overweight” rating and a $200.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.