Amalgamated Bank Has $1.48 Million Stock Holdings in AppLovin Co. (NASDAQ:APP)

Amalgamated Bank boosted its stake in shares of AppLovin Co. (NASDAQ:APP) by 44.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,725 shares of the company’s stock after buying an additional 5,490 shares during the period. Amalgamated Bank’s holdings in AppLovin were worth $1,475,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. WCM Investment Management LLC bought a new stake in shares of AppLovin in the first quarter valued at about $497,488,000. Whale Rock Capital Management LLC bought a new stake in AppLovin in the 1st quarter valued at approximately $195,129,000. Jericho Capital Asset Management L.P. grew its stake in shares of AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after acquiring an additional 2,525,240 shares in the last quarter. Norges Bank acquired a new stake in shares of AppLovin in the fourth quarter valued at approximately $43,973,000. Finally, Jackson Square Partners LLC bought a new stake in shares of AppLovin in the first quarter worth $54,736,000. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred 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 owns 10,247 shares in the company, valued at approximately $900,711.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Eduardo Vivas sold 118,839 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated 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 owns 10,247 shares in the company, valued at $900,711.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 775,934 shares of company stock valued at $65,805,022. 14.69% of the stock is owned by company insiders.

Analysts Set New Price Targets

APP has been the subject of a number of analyst reports. Jefferies Financial Group raised their target price on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Benchmark upped their target price on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. Oppenheimer restated an “outperform” rating and issued a $105.00 price target (up from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. 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. Finally, Bank of America increased their price objective on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.44.

AppLovin Trading Down 2.0 %

Shares of APP stock opened at $128.13 on Friday. AppLovin Co. has a 12-month low of $34.45 and a 12-month high of $133.05. The firm has a 50 day moving average price of $91.49 and a two-hundred day moving average price of $82.10. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a market capitalization of $42.83 billion, a PE ratio of 76.27, a price-to-earnings-growth ratio of 1.82 and a beta of 1.88.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $0.22 EPS. As a group, analysts predict that AppLovin Co. will post 3.46 earnings per share for the current 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.