UMB Bank n.a. Makes New Investment in AppLovin Co. (NASDAQ:APP)

UMB Bank n.a. bought a new stake in AppLovin Co. (NASDAQ:APP) in the second quarter, HoldingsChannel reports. The fund bought 560 shares of the company’s stock, valued at approximately $47,000.

Several other large investors also recently modified their holdings of APP. American Trust grew its position 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 period. Highland Capital Management LLC raised its holdings in AppLovin by 0.5% during the 1st quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock worth $1,946,000 after buying an additional 153 shares during the period. GAMMA Investing LLC lifted its stake in AppLovin by 13.6% in the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock valued at $89,000 after buying an additional 154 shares in the last quarter. DeDora Capital Inc. boosted its holdings in shares of AppLovin by 1.8% in the first quarter. DeDora Capital Inc. now owns 9,596 shares of the company’s stock valued at $664,000 after buying an additional 166 shares during the period. Finally, Covestor Ltd increased its position in shares of AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after acquiring an additional 236 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. BTIG Research boosted their price objective on shares of AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Oppenheimer restated an “outperform” rating and issued a $105.00 price target (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Benchmark upped their price objective on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. Citigroup lifted their target price on AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Finally, The Goldman Sachs Group upped their price target on AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.86.

AppLovin Price Performance

NASDAQ:APP opened at $92.87 on Friday. The stock has a market capitalization of $30.56 billion, a PE ratio of 55.28, a P/E/G ratio of 1.27 and a beta of 1.86. AppLovin Co. has a 1-year low of $34.45 and a 1-year high of $93.70. The firm has a fifty day simple moving average of $82.19 and a 200 day simple moving average of $75.74. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59.

AppLovin (NASDAQ:APP) last announced 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 company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The company’s quarterly revenue was up 44.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 EPS. On average, research analysts expect that AppLovin Co. will post 2.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mary Margaret Hasti Georgiadis sold 6,990 shares of AppLovin stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $83.89, for a total transaction of $586,391.10. Following the completion of the transaction, the director now directly owns 34,178 shares in the company, valued at approximately $2,867,192.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mary Margaret Hasti Georgiadis sold 6,990 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $83.89, for a total value of $586,391.10. Following the transaction, the director now directly owns 34,178 shares of the company’s stock, valued at $2,867,192.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 11,276 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $75.71, for a total transaction of $853,705.96. Following the completion of the transaction, the insider now owns 437,214 shares in the company, valued at approximately $33,101,471.94. The disclosure for this sale can be found here. Insiders have sold a total of 637,071 shares of company stock valued at $53,971,086 over the last 90 days. 14.69% of the stock is currently owned by insiders.

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.