Invst LLC Buys 2,254 Shares of AppLovin Co. (NASDAQ:APP)

Invst LLC increased its stake in shares of AppLovin Co. (NASDAQ:APP) by 68.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,528 shares of the company’s stock after acquiring an additional 2,254 shares during the period. Invst LLC’s holdings in AppLovin were worth $469,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of APP. American Trust raised 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 purchasing an additional 150 shares during the period. Highland Capital Management LLC raised its stake in AppLovin by 0.5% in the first 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 lifted its position in shares of AppLovin by 13.6% in the first 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 last quarter. Cullen Frost Bankers Inc. boosted its stake 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 acquiring an additional 205 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of AppLovin by 9.5% during the 2nd quarter. Signaturefd LLC now owns 2,489 shares of the company’s stock worth $207,000 after acquiring an additional 215 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Performance

NASDAQ:APP opened at $130.55 on Tuesday. The stock has a fifty day moving average price of $93.36 and a 200-day moving average price of $83.34. The company has a market cap of $42.95 billion, a price-to-earnings ratio of 77.71, a PEG ratio of 1.82 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 Co. has a fifty-two week low of $34.45 and a fifty-two week high of $133.05.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The firm had revenue of $1.08 billion during 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 company’s revenue was up 44.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 EPS. As a group, equities analysts anticipate that AppLovin Co. will post 3.46 EPS for the current fiscal year.

Analysts Set New Price Targets

APP has been the subject of several research reports. Macquarie reaffirmed an “outperform” rating and set a $150.00 price target (up previously from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Wedbush cut their target price on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Citigroup upped their price target 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. Oppenheimer restated an “outperform” rating and set a $105.00 price objective (up previously from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Finally, UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and upped their target price for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.44.

Insider Activity

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’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 completion of the sale, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’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 completion of the sale, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 229,200 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the sale, the director now owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. The disclosure for this sale can be found here. In the last three months, insiders sold 728,933 shares of company stock worth $61,807,117. 14.69% of the stock is currently owned by company insiders.

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.