AppLovin Co. (NASDAQ:APP) Stock Holdings Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in shares of AppLovin Co. (NASDAQ:APP) by 695.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 549,453 shares of the company’s stock after purchasing an additional 480,336 shares during the period. Envestnet Asset Management Inc. owned about 0.17% of AppLovin worth $45,725,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of APP. Oppenheimer Asset Management Inc. lifted its stake in AppLovin by 104.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 23,966 shares of the company’s stock worth $1,994,000 after purchasing an additional 12,248 shares during the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of AppLovin by 36.5% during the second quarter. Thoroughbred Financial Services LLC now owns 30,531 shares of the company’s stock worth $2,540,000 after purchasing an additional 8,158 shares during the period. Federated Hermes Inc. lifted its position in shares of AppLovin by 28.9% in the 2nd quarter. Federated Hermes Inc. now owns 793,886 shares of the company’s stock worth $66,067,000 after buying an additional 178,202 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of AppLovin by 29.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 165,821 shares of the company’s stock valued at $13,744,000 after buying an additional 37,599 shares during the period. Finally, BOKF NA bought a new stake in shares of AppLovin during the 2nd quarter valued at about $413,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on APP. Bank of America lifted their target price on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $145.00 in a research report on Tuesday. Wedbush dropped their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Benchmark raised their target price on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Finally, BTIG Research upped their price target on shares of AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.09.

Insider Buying and Selling

In other news, Director Eduardo Vivas sold 118,839 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’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 sale, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 118,839 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $90.75, for a total value of $10,784,639.25. Following the completion of the transaction, the director now owns 7,641,531 shares of the company’s stock, valued at approximately $693,468,938.25. The disclosure for this sale can be found here. Insiders have sold a total of 775,934 shares of company stock valued at $65,805,022 over the last three months. Company insiders own 14.69% of the company’s stock.

AppLovin Trading Up 0.7 %

Shares of NASDAQ:APP opened at $124.00 on Friday. AppLovin Co. has a twelve month low of $34.45 and a twelve month high of $128.19. 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 firm has a market cap of $40.80 billion, a P/E ratio of 73.81, a P/E/G ratio of 1.41 and a beta of 1.88. The company has a 50 day moving average of $86.26 and a 200-day moving average of $79.52.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the company posted $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 earnings per share for the current fiscal year.

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.