AppLovin Co. (NASDAQ:APP) Shares Acquired by Xponance Inc.

Xponance Inc. boosted its holdings in shares of AppLovin Co. (NASDAQ:APP) by 90.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,159 shares of the company’s stock after buying an additional 21,495 shares during the quarter. Xponance Inc.’s holdings in AppLovin were worth $3,758,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WCM Investment Management LLC acquired a new stake in shares of AppLovin in the first quarter valued at $497,488,000. Jericho Capital Asset Management L.P. grew its holdings in AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after acquiring an additional 2,525,240 shares in the last quarter. Whale Rock Capital Management LLC acquired a new stake in shares of AppLovin in the 1st quarter valued at $195,129,000. First Trust Advisors LP increased its holdings in AppLovin by 42.6% in the fourth quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock valued at $91,605,000 after buying an additional 686,258 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in AppLovin by 977.2% in the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after buying an additional 1,357,400 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity

In related news, insider Victoria Valenzuela sold 47,001 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the completion of the transaction, the insider now directly owns 390,615 shares of the company’s stock, valued at $33,225,711.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Victoria Valenzuela sold 47,001 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the transaction, the insider now owns 390,615 shares of the company’s stock, valued at $33,225,711.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 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 $900,711.30. The disclosure for this sale can be found here. Insiders have sold a total of 775,934 shares of company stock valued at $65,805,022 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on APP shares. Jefferies Financial Group increased their price objective on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Citigroup raised their price objective on shares of AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Benchmark upped their target price on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a report on Friday, August 23rd. Oppenheimer reiterated 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. Finally, BTIG Research upped their price objective on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $106.44.

AppLovin Stock Up 1.3 %

AppLovin stock opened at $130.71 on Thursday. The stock has a market capitalization of $43.69 billion, a price-to-earnings ratio of 77.80, a PEG ratio of 1.82 and a beta of 1.88. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The stock has a 50 day moving average of $90.55 and a two-hundred day moving average of $81.78. AppLovin Co. has a twelve month low of $34.45 and a twelve month high of $131.41.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. AppLovin’s quarterly revenue was up 44.0% on a year-over-year basis. During the same period last year, the firm posted $0.22 EPS. As a group, research analysts expect 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.