MBB Public Markets I LLC Has $998,000 Stake in AppLovin Co. (NASDAQ:APP)

MBB Public Markets I LLC decreased its position in AppLovin Co. (NASDAQ:APP) by 15.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,996 shares of the company’s stock after selling 2,152 shares during the quarter. MBB Public Markets I LLC’s holdings in AppLovin were worth $998,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lone Pine Capital LLC increased its position in shares of AppLovin by 7.2% in the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after acquiring an additional 382,767 shares during the last quarter. Jericho Capital Asset Management L.P. increased its position 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 acquiring an additional 2,525,240 shares during the last quarter. Fred Alger Management LLC acquired a new stake in shares of AppLovin in the second quarter valued at about $290,655,000. Whale Rock Capital Management LLC bought a new position in shares of AppLovin in the 1st quarter valued at about $195,129,000. Finally, First Trust Advisors LP increased its stake in shares of AppLovin by 42.6% during the 4th quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock worth $91,605,000 after purchasing an additional 686,258 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on APP shares. Macquarie reiterated 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. Jefferies Financial Group lifted their target price on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Wedbush dropped their price target on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Finally, Citigroup increased their price objective on shares of AppLovin from $110.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.44.

Insider Buying and Selling at AppLovin

In other news, Director Eduardo Vivas sold 118,839 shares of the company’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 of the company’s stock, valued at approximately $693,468,938.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Eduardo Vivas sold 118,839 shares of AppLovin stock in a transaction on Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the transaction, the director now owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total value of $5,472,193.76. Following the sale, the chief marketing officer now owns 1,164,396 shares of the company’s stock, valued at $88,121,489.28. The disclosure for this sale can be found here. Insiders have sold a total of 728,933 shares of company stock valued at $61,807,117 in the last ninety days. 14.69% of the stock is currently owned by company insiders.

AppLovin Stock Up 2.2 %

NASDAQ APP opened at $130.55 on Tuesday. 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 company has a market cap of $42.95 billion, a price-to-earnings ratio of 77.71, a PEG ratio of 1.82 and a beta of 1.88. The company has a 50 day moving average of $93.36 and a 200-day moving average of $83.34. AppLovin Co. has a 1-year low of $34.45 and a 1-year high of $133.05.

AppLovin (NASDAQ:APP) last released its earnings results 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 return on equity of 84.16% and a net margin of 20.89%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the company posted $0.22 EPS. The company’s revenue was up 44.0% compared to the same quarter last year. On average, equities research analysts expect that AppLovin Co. will post 3.46 earnings per share for the current fiscal 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.