AppLovin Co. (NASDAQ:APP) Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. reduced its stake in shares of AppLovin Co. (NASDAQ:APP) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,104 shares of the company’s stock after selling 292 shares during the period. Centaurus Financial Inc.’s holdings in AppLovin were worth $2,172,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in APP. Fred Alger Management LLC acquired a new position in shares of AppLovin during the 2nd quarter worth approximately $290,655,000. Whale Rock Capital Management LLC acquired a new position in shares of AppLovin during the 1st quarter worth approximately $195,129,000. Jericho Capital Asset Management L.P. raised its position 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 valued at $269,305,000 after buying an additional 2,525,240 shares during the period. 1832 Asset Management L.P. raised its position in shares of AppLovin by 977.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after buying an additional 1,357,400 shares during the period. Finally, Jackson Square Partners LLC purchased a new stake in shares of AppLovin during the 1st quarter valued at approximately $54,736,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 3.0 %

AppLovin stock opened at $135.25 on Friday. AppLovin Co. has a twelve month low of $34.45 and a twelve month high of $135.25. The stock’s fifty day simple moving average is $95.35 and its 200-day simple moving average is $84.14. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The firm has a market capitalization of $44.50 billion, a P/E ratio of 80.51, a P/E/G ratio of 1.82 and a beta of 1.92.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping 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 business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the company earned $0.22 earnings per share. The company’s revenue was up 44.0% on a year-over-year basis. As a group, equities analysts expect that AppLovin Co. will post 3.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on APP. Bank of America lifted their price target on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price target for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. Macquarie reaffirmed an “outperform” rating and set a $150.00 price target (up previously from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. Finally, BTIG Research lifted their price target on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $106.44.

Insider Transactions at AppLovin

In related news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the transaction, the director now owns 7,412,475 shares in the company, valued at $640,067,216.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the transaction, the director now owns 7,412,475 shares in the company, valued at $640,067,216.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the transaction, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at approximately $381,192,483.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is currently owned by company insiders.

AppLovin 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.