Wealth Enhancement Advisory Services LLC Has $13.46 Million Position in AppLovin Co. (NASDAQ:APP)

Wealth Enhancement Advisory Services LLC grew its stake in shares of AppLovin Co. (NASDAQ:APP) by 115.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 103,132 shares of the company’s stock after buying an additional 55,300 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in AppLovin were worth $13,464,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of AppLovin by 9,470.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after buying an additional 248,022 shares during the last quarter. Acadian Asset Management LLC raised its position in AppLovin by 2,081.4% in the first quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after purchasing an additional 15,590 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in AppLovin by 167.0% during the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after buying an additional 10,099 shares during the last quarter. Clearbridge Investments LLC grew its stake in AppLovin by 73.0% during the second quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock worth $74,344,000 after buying an additional 376,835 shares during the last quarter. Finally, Sei Investments Co. grew its stake in AppLovin by 77.0% during the second quarter. Sei Investments Co. now owns 515,665 shares of the company’s stock worth $42,914,000 after buying an additional 224,306 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity 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 value of $19,791,420.00. Following the sale, the director now directly owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $19,791,420.00. Following the sale, the director now directly owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the sale, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on APP. JPMorgan Chase & Co. raised their price target on shares of AppLovin from $57.00 to $160.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Wells Fargo & Company began coverage on shares of AppLovin in a report on Monday. They issued an “overweight” rating and a $200.00 price target for the company. Macquarie reissued an “outperform” rating and issued a $150.00 price target (up previously from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Benchmark raised their price target on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a report on Friday, August 23rd. Finally, Oppenheimer raised their price target on shares of AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.72.

AppLovin Trading Up 2.8 %

Shares of NASDAQ APP opened at $166.19 on Tuesday. The company’s fifty day moving average is $121.33 and its 200-day moving average is $93.97. The stock has a market cap of $54.68 billion, a price-to-earnings ratio of 98.92, a P/E/G ratio of 2.07 and a beta of 1.92. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $166.74. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results 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. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business’s quarterly revenue was up 44.0% compared to the same quarter last year. During the same period last year, the firm posted $0.22 earnings per share. Equities research analysts predict that AppLovin Co. will post 3.46 EPS for the current year.

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.