Sei Investments Co. Acquires 224,306 Shares of AppLovin Co. (NASDAQ:APP)

Sei Investments Co. grew its holdings in AppLovin Co. (NASDAQ:APP) by 77.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 515,665 shares of the company’s stock after purchasing an additional 224,306 shares during the period. Sei Investments Co. owned about 0.16% of AppLovin worth $42,914,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp lifted its stake in AppLovin by 9,470.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after acquiring an additional 248,022 shares during the period. Gulf International Bank UK Ltd purchased a new stake in AppLovin in the first quarter worth approximately $1,131,000. Acadian Asset Management LLC boosted its holdings in AppLovin by 2,081.4% in the first quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after purchasing an additional 15,590 shares during the last quarter. Janney Montgomery Scott LLC grew its position in AppLovin by 167.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after purchasing an additional 10,099 shares during the period. Finally, Park Avenue Securities LLC purchased a new stake in AppLovin during the 2nd quarter valued at $1,195,000. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling at AppLovin

In other AppLovin 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 transaction of $3,997,905.06. Following the sale, the insider now directly owns 390,615 shares of the company’s stock, valued at $33,225,711.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Victoria Valenzuela sold 47,001 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the transaction, the insider now directly owns 390,615 shares in the company, valued at approximately $33,225,711.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the transaction, the chief marketing officer now owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. The disclosure for this sale can be found here. Insiders sold 775,934 shares of company stock worth $65,805,022 over the last 90 days. 14.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. BTIG Research raised their target price on AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Bank of America increased their price target on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Citigroup upped their price objective on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and lifted their target price for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. Finally, Jefferies Financial Group upped their price target on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $103.09.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $126.12 on Tuesday. The firm’s fifty day moving average is $88.69 and its two-hundred day moving average is $80.97. AppLovin Co. has a 52-week low of $34.45 and a 52-week high of $128.19. The company has a market cap of $41.50 billion, a P/E ratio of 75.07, a P/E/G ratio of 1.41 and a beta of 1.88. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28.

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

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.