EP Wealth Advisors LLC Buys 1,840 Shares of AppLovin Co. (NASDAQ:APP)

EP Wealth Advisors LLC raised its stake in shares of AppLovin Co. (NASDAQ:APP) by 22.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 10,204 shares of the company’s stock after purchasing an additional 1,840 shares during the quarter. EP Wealth Advisors LLC’s holdings in AppLovin were worth $407,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in APP. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of AppLovin during the 3rd quarter worth about $304,000. UBS Group AG increased its holdings in shares of AppLovin by 669.6% during the 3rd quarter. UBS Group AG now owns 197,799 shares of the company’s stock worth $7,904,000 after purchasing an additional 172,097 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of AppLovin during the 3rd quarter valued at about $121,000. FMR LLC boosted its position in shares of AppLovin by 224.6% during the 3rd quarter. FMR LLC now owns 755,798 shares of the company’s stock valued at $30,202,000 after acquiring an additional 522,949 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of AppLovin by 26.6% during the 3rd quarter. Invesco Ltd. now owns 816,761 shares of the company’s stock valued at $32,638,000 after acquiring an additional 171,490 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Activity

In other news, insider Victoria Valenzuela sold 11,276 shares of AppLovin stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $75.71, for a total value of $853,705.96. Following the completion of the sale, the insider now directly owns 437,214 shares of the company’s stock, valued at approximately $33,101,471.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Craig Scott Billings sold 5,620 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $84.97, for a total value of $477,531.40. Following the transaction, the director now directly owns 1,780 shares in the company, valued at approximately $151,246.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 11,276 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $75.71, for a total value of $853,705.96. Following the completion of the transaction, the insider now owns 437,214 shares in the company, valued at $33,101,471.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,741,886 shares of company stock valued at $1,478,219,330. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Up 3.0 %

NASDAQ APP opened at $80.84 on Wednesday. The stock has a fifty day moving average of $77.81 and a 200-day moving average of $60.54. The stock has a market capitalization of $26.60 billion, a P/E ratio of 48.11, a price-to-earnings-growth ratio of 1.31 and a beta of 1.88. AppLovin Co. has a 52 week low of $22.85 and a 52 week high of $88.50. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $973.70 million. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period last year, the firm earned ($0.01) EPS. On average, equities research analysts forecast that AppLovin Co. will post 2.96 EPS for the current year.

Analyst Ratings Changes

APP has been the topic of several recent research reports. Citigroup lifted their target price on shares of AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Daiwa Capital Markets initiated coverage on shares of AppLovin in a research report on Monday, April 15th. They set a “neutral” rating and a $80.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Oppenheimer reiterated an “outperform” rating and set a $97.00 target price on shares of AppLovin in a research report on Thursday, June 13th. Finally, TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.72.

AppLovin Company 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.