APG Asset Management N.V. Makes New $2.24 Million Investment in AppLovin Co. (NASDAQ:APP)

APG Asset Management N.V. purchased a new position in shares of AppLovin Co. (NASDAQ:APP) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 28,880 shares of the company’s stock, valued at approximately $2,242,000.

Other institutional investors have also modified their holdings of the company. Fred Alger Management LLC purchased a new position in AppLovin during the 2nd quarter valued at about $290,655,000. Whale Rock Capital Management LLC acquired a new stake in shares of AppLovin during the first quarter worth about $195,129,000. Jericho Capital Asset Management L.P. grew its holdings in shares of 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 valued at $269,305,000 after purchasing an additional 2,525,240 shares in the last quarter. 1832 Asset Management L.P. increased its stake in AppLovin by 977.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after buying an additional 1,357,400 shares during the period. Finally, Jackson Square Partners LLC acquired a new stake in AppLovin during the 1st quarter worth approximately $54,736,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on 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 approximately $900,711.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 728,933 shares of company stock worth $61,807,117. 14.69% of the stock is owned by insiders.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $130.55 on Tuesday. 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 Co. has a 12 month low of $34.45 and a 12 month high of $133.05. The firm has a market capitalization of $42.95 billion, a P/E ratio of 77.71, a P/E/G ratio of 1.82 and a beta of 1.88. The company’s fifty day moving average price is $93.36 and its 200 day moving average price is $83.34.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The business’s revenue was up 44.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 earnings per share. As a group, sell-side analysts predict that AppLovin Co. will post 3.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on APP shares. Citigroup upped their price objective on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Macquarie restated an “outperform” rating and set a $150.00 price target (up previously from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. Wedbush cut their target price on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Jefferies Financial Group lifted their price target on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.44.

AppLovin Company 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.