OneDigital Investment Advisors LLC Acquires New Stake in AppLovin Co. (NASDAQ:APP)

OneDigital Investment Advisors LLC bought a new position in AppLovin Co. (NASDAQ:APP) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,570 shares of the company’s stock, valued at approximately $336,000.

Several other institutional investors have also added to or reduced their stakes in APP. WCM Investment Management LLC raised its position in shares of AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. Lone Pine Capital LLC boosted its stake in shares of AppLovin by 7.2% during the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after purchasing an additional 382,767 shares in the last quarter. Jericho Capital Asset Management L.P. raised its holdings in AppLovin by 185.0% in 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 in the last quarter. Fred Alger Management LLC purchased a new position in shares of AppLovin during the second quarter valued at approximately $290,655,000. Finally, Whale Rock Capital Management LLC bought a new position in shares of AppLovin during the first quarter valued at $195,129,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Macquarie increased their target price on AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday. Wedbush reissued an “outperform” rating and issued a $270.00 price objective (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Finally, Stifel Nicolaus boosted their price objective on shares of AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $222.96.

Insider Buying and Selling

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction dated 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 directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 12.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,376 shares of company stock worth $30,737,619. 14.69% of the stock is owned by corporate insiders.

AppLovin Trading Down 1.9 %

Shares of NASDAQ:APP opened at $318.99 on Friday. The company has a market capitalization of $107.05 billion, a PE ratio of 96.67, a PEG ratio of 3.95 and a beta of 1.86. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The business has a 50 day moving average of $176.89 and a two-hundred day moving average of $115.35. AppLovin Co. has a 12-month low of $35.79 and a 12-month high of $342.51.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. As a group, analysts forecast that AppLovin Co. will post 4.06 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.