AppLovin Co. (NASDAQ:APP) Stock Holdings Boosted by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its position in AppLovin Co. (NASDAQ:APP) by 73.0% during the second quarter, Holdings Channel reports. The institutional investor owned 893,344 shares of the company’s stock after buying an additional 376,835 shares during the quarter. Clearbridge Investments LLC’s holdings in AppLovin were worth $74,344,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of APP. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in AppLovin by 9,470.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock worth $17,336,000 after buying an additional 248,022 shares in the last quarter. Gulf International Bank UK Ltd acquired a new position in shares of AppLovin in the 1st quarter worth $1,131,000. Acadian Asset Management LLC lifted its holdings in shares of AppLovin by 2,081.4% during the first 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 last quarter. Janney Montgomery Scott LLC boosted its position in shares of AppLovin by 167.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after purchasing an additional 10,099 shares during the period. Finally, Sei Investments Co. increased its stake in AppLovin by 77.0% in the 2nd quarter. Sei Investments Co. now owns 515,665 shares of the company’s stock worth $42,914,000 after purchasing an additional 224,306 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’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 sale, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 728,933 shares of company stock worth $61,807,117. 14.69% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Jefferies Financial Group raised their price objective 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. BTIG Research boosted their target price 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. Wedbush decreased their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Benchmark upped their price target on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.44.

AppLovin Price Performance

Shares of APP opened at $131.36 on Thursday. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market cap of $43.22 billion, a PE ratio of 78.19, a PEG ratio of 1.82 and a beta of 1.88. The firm’s 50 day moving average price is $95.35 and its 200 day moving average price is $84.14. AppLovin Co. has a twelve month low of $34.45 and a twelve month high of $133.05.

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. The business had revenue of $1.08 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 EPS. As a group, research analysts expect that AppLovin Co. will post 3.46 EPS for the current fiscal year.

About AppLovin

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.