Sumitomo Mitsui DS Asset Management Company Ltd Has $2.58 Million Stock Position in AppLovin Co. (NASDAQ:APP)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in AppLovin Co. (NASDAQ:APP) by 27.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,757 shares of the company’s stock after purchasing an additional 4,287 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in AppLovin were worth $2,579,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of AppLovin in the 2nd quarter valued at approximately $33,000. Oliver Lagore Vanvalin Investment Group acquired a new position in AppLovin during the second quarter valued at approximately $34,000. Covestor Ltd lifted its stake in AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of AppLovin in the 2nd quarter valued at $37,000. Finally, Atlas Capital Advisors LLC acquired a new position in shares of AppLovin during the 1st quarter worth $38,000. Institutional investors own 41.85% of the company’s stock.

Insider Activity

In related news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the transaction, the director now owns 7,412,475 shares in the company, valued at $640,067,216.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the sale, the director now owns 10,247 shares in the company, valued at $900,711.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eduardo Vivas sold 229,200 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the transaction, the director now directly owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Macquarie reaffirmed an “outperform” rating and issued a $150.00 price objective (up from $115.00) on shares of AppLovin in a research note on Wednesday, September 25th. BTIG Research lifted their price target on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 13th. Oppenheimer reissued an “outperform” rating and issued a $105.00 price objective (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Wedbush decreased 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, Bank of America increased their price target on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $110.01.

AppLovin Trading Up 1.6 %

NASDAQ APP opened at $145.22 on Monday. The firm has a market capitalization of $47.78 billion, a PE ratio of 86.44, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The business’s 50-day moving average price is $111.99 and its two-hundred day moving average price is $90.40. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin Co. has a 12 month low of $34.45 and a 12 month high of $148.48.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The firm’s quarterly revenue was up 44.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. On average, analysts expect that AppLovin Co. will post 3.46 EPS 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.