AppLovin Co. (NASDAQ:APP) Shares Acquired by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. increased its holdings in shares of AppLovin Co. (NASDAQ:APP) by 87.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,529 shares of the company’s stock after purchasing an additional 715 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in AppLovin were worth $127,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. FinTrust Capital Advisors LLC acquired a new position in shares of AppLovin during the fourth quarter worth about $32,000. Quest Partners LLC purchased a new stake in shares of AppLovin during the 2nd quarter valued at about $33,000. Covestor Ltd lifted its position in AppLovin by 85.8% during the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after acquiring an additional 236 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in AppLovin in the 2nd quarter worth approximately $37,000. Finally, Atlas Capital Advisors LLC acquired a new stake in AppLovin in the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of recent research reports. Jefferies Financial Group boosted their target price on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Benchmark raised their target price on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Macquarie reiterated an “outperform” rating and issued a $150.00 price target (up previously from $115.00) on shares of AppLovin in a research note on Wednesday. Oppenheimer restated an “outperform” rating and set a $105.00 price objective (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Finally, Citigroup lifted their price objective on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $106.44.

AppLovin Stock Performance

AppLovin stock opened at $128.13 on Friday. The company has a market cap of $42.83 billion, a PE ratio of 76.27, a P/E/G ratio of 1.82 and a beta of 1.88. AppLovin Co. has a 12 month low of $34.45 and a 12 month high of $133.05. The company has a fifty day moving average price of $91.49 and a two-hundred day moving average price of $82.10. 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 announced 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. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. The company’s revenue for the quarter was up 44.0% compared to the same quarter last year. Research analysts expect that AppLovin Co. will post 3.46 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $900,711.30. The sale was disclosed in a document filed with the SEC, which is available through this link. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s 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 approximately $900,711.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $10,784,639.25. Following the completion of the sale, the director now owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 775,934 shares of company stock valued at $65,805,022. Insiders own 14.69% of the company’s stock.

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.