Central Pacific Bank Trust Division Has $1.03 Million Stock Holdings in AppLovin Co. (NASDAQ:APP)

Central Pacific Bank Trust Division decreased its position in AppLovin Co. (NASDAQ:APP) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,870 shares of the company’s stock after selling 80 shares during the period. Central Pacific Bank Trust Division’s holdings in AppLovin were worth $1,027,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Fred Alger Management LLC bought a new position in AppLovin during the second quarter worth about $290,655,000. Whale Rock Capital Management LLC bought a new position in AppLovin during the first quarter worth about $195,129,000. Jericho Capital Asset Management L.P. raised its position in shares of AppLovin by 185.0% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after purchasing 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 second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after purchasing an additional 1,357,400 shares during the period. Finally, Jackson Square Partners LLC acquired a new stake in shares of AppLovin during the first quarter worth about $54,736,000. Institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Jefferies Financial Group raised 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. Citigroup lifted their target price on AppLovin from $110.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Macquarie reissued an “outperform” rating and issued a $150.00 target price (up previously from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. Oppenheimer reissued an “outperform” rating and issued a $105.00 target price (up previously from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. Finally, Benchmark lifted their target price on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $106.44.

AppLovin Stock Performance

APP opened at $135.25 on Friday. The business has a fifty day simple moving average of $95.35 and a 200 day simple moving average of $84.14. The company has a market capitalization of $44.50 billion, a PE ratio of 80.51, a price-to-earnings-growth ratio of 1.82 and a beta of 1.92. AppLovin Co. has a 1 year low of $34.45 and a 1 year high of $135.25. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28.

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. Research analysts expect that AppLovin Co. will post 3.46 EPS for the current year.

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’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 transaction, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other AppLovin news, CTO Vasily Shikin sold 5,500 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $86.04, for a total value of $473,220.00. Following the sale, the chief technology officer now owns 4,536,447 shares in the company, valued at approximately $390,315,899.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 610,094 shares of company stock valued at $51,022,478. Corporate insiders own 14.69% of the company’s stock.

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.