Asset Management One Co. Ltd. Has $9.23 Million Position in AppLovin Co. (NASDAQ:APP)

Asset Management One Co. Ltd. grew its holdings in AppLovin Co. (NASDAQ:APP) by 13.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 70,698 shares of the company’s stock after purchasing an additional 8,119 shares during the quarter. Asset Management One Co. Ltd.’s holdings in AppLovin were worth $9,230,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. National Pension Service boosted its stake in AppLovin by 45.5% in the third quarter. National Pension Service now owns 506,167 shares of the company’s stock worth $66,080,000 after purchasing an additional 158,267 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in AppLovin by 64.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 266,071 shares of the company’s stock worth $34,736,000 after purchasing an additional 104,098 shares in the last quarter. Emerald Advisers LLC lifted its stake in shares of AppLovin by 48.7% during the third quarter. Emerald Advisers LLC now owns 3,333 shares of the company’s stock valued at $435,000 after acquiring an additional 1,092 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of AppLovin by 2.1% during the third quarter. Janney Montgomery Scott LLC now owns 52,214 shares of the company’s stock valued at $6,817,000 after acquiring an additional 1,084 shares during the period. Finally, Silvant Capital Management LLC acquired a new position in shares of AppLovin during the third quarter valued at $5,036,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related news, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the transaction, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Matthew Stumpf sold 60,615 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the sale, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at $20,262,490.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the completion of the sale, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 610,094 shares of company stock valued at $51,022,478. Insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a research note on Thursday. Jefferies Financial Group upped their price target on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. upped their price target on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday. Macquarie upped their price objective on AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Benchmark reiterated a “sell” rating and issued a $66.00 price objective on shares of AppLovin in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.54.

AppLovin Stock Up 46.3 %

APP stock opened at $246.53 on Friday. 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 has a market capitalization of $82.40 billion, a P/E ratio of 104.91, a P/E/G ratio of 2.29 and a beta of 1.86. The business has a 50-day moving average of $132.23 and a 200-day moving average of $98.51. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $257.43.

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 the consensus estimate of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the firm earned $0.22 earnings per share. AppLovin’s revenue for the quarter was up 44.0% compared to the same quarter last year. On average, sell-side analysts anticipate that AppLovin Co. will post 3.48 earnings per share for the current fiscal 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.