Private Advisor Group LLC Boosts Holdings in AppLovin Co. (NASDAQ:APP)

Private Advisor Group LLC grew its position in shares of AppLovin Co. (NASDAQ:APP) by 98.6% in the second quarter, Holdings Channel reports. The institutional investor owned 7,144 shares of the company’s stock after buying an additional 3,547 shares during the period. Private Advisor Group LLC’s holdings in AppLovin were worth $595,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Precision Wealth Strategies LLC purchased a new position in shares of AppLovin during the 4th quarter worth approximately $324,000. Norges Bank purchased a new position in AppLovin in the fourth quarter worth $43,973,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in AppLovin by 44.4% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,324 shares of the company’s stock valued at $1,647,000 after acquiring an additional 12,714 shares during the period. Thoroughbred Financial Services LLC boosted its position in shares of AppLovin by 192.0% during the 4th quarter. Thoroughbred Financial Services LLC now owns 20,136 shares of the company’s stock worth $802,000 after purchasing an additional 13,240 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of AppLovin by 3.1% during the 4th quarter. Clearbridge Investments LLC now owns 63,032 shares of the company’s stock worth $2,512,000 after purchasing an additional 1,918 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Eduardo Vivas sold 118,839 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $90.75, for a total value of $10,784,639.25. Following the sale, the director now directly owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Matthew Stumpf sold 60,615 shares of AppLovin stock in a transaction dated 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 transaction, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eduardo Vivas sold 118,839 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the sale, the director now directly owns 7,641,531 shares of the company’s stock, valued at approximately $693,468,938.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 775,934 shares of company stock worth $65,805,022. 14.69% of the stock is owned by company insiders.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $123.16 on Thursday. 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 company has a market cap of $40.52 billion, a PE ratio of 73.31, a price-to-earnings-growth ratio of 1.41 and a beta of 1.88. The company has a 50-day simple moving average of $86.26 and a 200-day simple moving average of $79.52. AppLovin Co. has a 12 month low of $34.45 and a 12 month high of $125.75.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating 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 the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $0.22 EPS. AppLovin’s revenue was up 44.0% on a year-over-year basis. On average, equities analysts anticipate that AppLovin Co. will post 3.46 earnings per share for the current year.

Wall Street Analyst Weigh In

APP has been the topic of a number of research analyst reports. BTIG Research boosted their price objective on shares of AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Oppenheimer reissued an “outperform” rating and set a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and raised their price objective for the company from $100.00 to $145.00 in a research note on Tuesday. Jefferies Financial Group boosted their target price on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Wedbush dropped their price target on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.71.

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.