Intech Investment Management LLC Grows Stock Position in AppLovin Co. (NASDAQ:APP)

Intech Investment Management LLC boosted its holdings in AppLovin Co. (NASDAQ:APP) by 95.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,779 shares of the company’s stock after buying an additional 11,102 shares during the period. Intech Investment Management LLC’s holdings in AppLovin were worth $1,896,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Trust boosted its position in shares of AppLovin by 2.8% in the first quarter. American Trust now owns 5,550 shares of the company’s stock worth $384,000 after acquiring an additional 150 shares during the last quarter. Highland Capital Management LLC grew its stake in shares of AppLovin by 0.5% during the 1st quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock valued at $1,946,000 after buying an additional 153 shares during the period. GAMMA Investing LLC grew its stake in shares of AppLovin by 13.6% during the 1st quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock valued at $89,000 after buying an additional 154 shares during the period. Cullen Frost Bankers Inc. increased its holdings in shares of AppLovin by 10.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,205 shares of the company’s stock worth $184,000 after buying an additional 205 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of AppLovin by 9.5% in the 2nd quarter. Signaturefd LLC now owns 2,489 shares of the company’s stock worth $207,000 after buying an additional 215 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Oppenheimer restated an “outperform” rating and set a $105.00 price target (up from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and increased their target price for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Wedbush cut their price target on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Benchmark boosted their price objective on shares of AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research note on Friday, August 23rd. Finally, Citigroup raised their target price on shares of AppLovin from $110.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $103.09.

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Victoria Valenzuela sold 47,001 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $85.06, for a total value of $3,997,905.06. Following the completion of the sale, the insider now directly owns 390,615 shares in the company, valued at approximately $33,225,711.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now owns 10,247 shares in the company, valued at $900,711.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 775,934 shares of company stock worth $65,805,022. Insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $126.12 on Tuesday. The firm has a 50-day moving average of $88.69 and a two-hundred day moving average of $80.97. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a market cap of $41.50 billion, a P/E ratio of 75.07, a PEG ratio of 1.41 and a beta of 1.88. AppLovin Co. has a 1-year low of $34.45 and a 1-year high of $128.19.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 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 the consensus estimate of $1.08 billion. During the same quarter in the prior year, the business posted $0.22 earnings per share. AppLovin’s revenue for the quarter was up 44.0% on a year-over-year basis. On average, research analysts expect 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.