Capital Impact Advisors LLC Acquires New Position in AppLovin Co. (NASDAQ:APP)

Capital Impact Advisors LLC purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) during the 2nd quarter, HoldingsChannel reports. The firm purchased 7,788 shares of the company’s stock, valued at approximately $648,000. AppLovin accounts for about 1.8% of Capital Impact Advisors LLC’s holdings, making the stock its 28th biggest holding.

A number of other hedge funds have also modified their holdings of the company. American Trust lifted its holdings in shares of AppLovin by 2.8% in the 1st quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after buying an additional 150 shares during the period. Highland Capital Management LLC boosted 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 worth $1,946,000 after acquiring an additional 153 shares in the last quarter. GAMMA Investing LLC boosted its position in AppLovin by 13.6% during 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 in the last quarter. Cullen Frost Bankers Inc. grew its holdings in AppLovin by 10.3% in the second quarter. Cullen Frost Bankers Inc. now owns 2,205 shares of the company’s stock valued at $184,000 after purchasing an additional 205 shares during the period. Finally, Signaturefd LLC increased its position in shares of 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 buying an additional 215 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Down 0.3 %

AppLovin stock opened at $127.75 on Monday. AppLovin Co. has a 1-year low of $34.45 and a 1-year high of $133.05. The stock has a market cap of $42.03 billion, a PE ratio of 76.04, a P/E/G ratio of 1.82 and a beta of 1.88. 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’s fifty day moving average is $92.41 and its two-hundred day moving average is $82.86.

AppLovin (NASDAQ:APP) last announced 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 the consensus estimate of $1.08 billion. During the same period in the prior year, the company posted $0.22 earnings per share. The firm’s quarterly revenue was up 44.0% compared to the same quarter last year. On average, sell-side analysts expect that AppLovin Co. will post 3.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on APP shares. Oppenheimer reissued an “outperform” rating and issued a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. BTIG Research raised their price objective on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 13th. Benchmark upped their target price on shares of AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. Citigroup upped their price objective 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. Finally, Jefferies Financial Group boosted their target price on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $106.44.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 118,839 shares of the business’s 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 sale, the director now directly owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $10,784,639.25. Following the sale, the director now directly owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The disclosure for this sale can be found here. Insiders have sold 728,933 shares of company stock valued at $61,807,117 in the last ninety days. 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.