National Bank of Canada FI Has $82,000 Stake in AppLovin Co. (NASDAQ:APP)

National Bank of Canada FI lifted its holdings in AppLovin Co. (NASDAQ:APP) by 77.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 964 shares of the company’s stock after buying an additional 420 shares during the period. National Bank of Canada FI’s holdings in AppLovin were worth $82,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. American Trust boosted its holdings in shares of AppLovin by 2.8% during the 1st quarter. American Trust now owns 5,550 shares of the company’s stock worth $384,000 after buying an additional 150 shares in the last quarter. Highland Capital Management LLC boosted its stake in AppLovin by 0.5% during the first quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock worth $1,946,000 after acquiring an additional 153 shares in the last quarter. GAMMA Investing LLC grew its holdings in AppLovin by 13.6% in the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock worth $89,000 after purchasing an additional 154 shares during the period. Signaturefd LLC increased its stake in AppLovin by 9.5% in the second quarter. Signaturefd LLC now owns 2,489 shares of the company’s stock valued at $207,000 after purchasing an additional 215 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of AppLovin by 85.8% during the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wedbush dropped their price target on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Bank of America boosted their price target on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group raised their price objective on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. BTIG Research lifted their price objective on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a report on Friday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.78.

AppLovin Stock Performance

Shares of AppLovin stock opened at $112.58 on Friday. The firm has a market capitalization of $37.63 billion, a P/E ratio of 67.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.88. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The business’s fifty day simple moving average is $84.08 and its 200 day simple moving average is $78.24. AppLovin Co. has a 12 month low of $34.45 and a 12 month high of $112.88.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm earned $0.22 EPS. The firm’s quarterly revenue was up 44.0% on a year-over-year basis. As a group, analysts anticipate that AppLovin Co. will post 3.46 EPS for the current year.

Insider Activity

In other AppLovin news, Director Eduardo Vivas sold 118,839 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the completion of the sale, the director now directly owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Eduardo Vivas sold 118,839 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the sale, the director now directly owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 154,500 shares of AppLovin stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the transaction, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. The disclosure for this sale can be found here. Insiders sold 775,934 shares of company stock valued at $65,805,022 in the last three months. Company insiders own 14.69% of the company’s stock.

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.