Mercer Global Advisors Inc. ADV Buys 1,355 Shares of AppLovin Co. (NASDAQ:APP)

Mercer Global Advisors Inc. ADV raised its stake in AppLovin Co. (NASDAQ:APP) by 13.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,352 shares of the company’s stock after buying an additional 1,355 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in AppLovin were worth $933,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of AppLovin by 9,470.1% in the 1st 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 in the last quarter. Gulf International Bank UK Ltd bought a new position in shares of AppLovin during the 1st quarter valued at about $1,131,000. Acadian Asset Management LLC grew its position in shares of AppLovin by 2,081.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after purchasing an additional 15,590 shares during the period. Janney Montgomery Scott LLC increased its stake in AppLovin by 167.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after purchasing an additional 10,099 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in AppLovin during the 2nd quarter worth approximately $1,195,000. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the 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 transaction, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Victoria Valenzuela sold 47,001 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $85.06, for a total value of $3,997,905.06. Following the completion of the sale, the insider now directly owns 390,615 shares in the company, valued at approximately $33,225,711.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, 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. Insiders sold 775,934 shares of company stock valued at $65,805,022 in the last quarter. 14.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wedbush lowered their price objective on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Benchmark lifted their price target on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Macquarie reaffirmed an “outperform” rating and set a $150.00 price objective (up from $115.00) on shares of AppLovin in a research report on Wednesday. Bank of America boosted their target price on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target (up from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $106.44.

AppLovin Stock Up 1.3 %

AppLovin stock opened at $130.71 on Thursday. AppLovin Co. has a fifty-two week low of $34.45 and a fifty-two week high of $131.41. The firm has a market capitalization of $43.69 billion, a PE ratio of 77.80, a P/E/G ratio of 1.82 and a beta of 1.88. The company’s 50-day moving average is $90.55 and its 200-day moving average is $81.78. 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 quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) 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 firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was up 44.0% compared to the same quarter last year. Sell-side analysts anticipate that AppLovin Co. will post 3.46 earnings per share 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.