IFM Investors Pty Ltd Increases Stake in AppLovin Co. (NASDAQ:APP)

IFM Investors Pty Ltd raised its holdings in shares of AppLovin Co. (NASDAQ:APP) by 11.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,439 shares of the company’s stock after buying an additional 3,999 shares during the quarter. IFM Investors Pty Ltd’s holdings in AppLovin were worth $5,279,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Wellington Management Group LLP increased its holdings in shares of AppLovin by 1,642.4% in the fourth quarter. Wellington Management Group LLP now owns 182,033 shares of the company’s stock valued at $7,254,000 after purchasing an additional 171,586 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in shares of AppLovin during the 1st quarter worth $146,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of AppLovin by 39.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,563 shares of the company’s stock worth $4,746,000 after acquiring an additional 19,381 shares during the period. Diversified Trust Co purchased a new stake in shares of AppLovin in the first quarter valued at about $233,000. Finally, Oak Thistle LLC acquired a new stake in AppLovin during the first quarter worth about $284,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APP has been the subject of several analyst reports. Oppenheimer increased their price target on shares of AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday. Jefferies Financial Group raised 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. Loop Capital initiated coverage on AppLovin in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 price target on the stock. Bank of America raised their price objective on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, BTIG Research upped their target price on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.58.

Insider Transactions at AppLovin

In other news, Director Eduardo Vivas sold 229,200 shares of the stock in a transaction dated Friday, August 16th. The stock was 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 approximately $640,067,216.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the sale, the director now owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin 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 sale, the director now owns 10,247 shares in the company, valued at $900,711.30. 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 sold 610,094 shares of company stock valued at $51,022,478. Insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $161.63 on Friday. The stock’s 50-day moving average is $119.72 and its two-hundred day moving average is $93.23. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market cap of $53.18 billion, a price-to-earnings ratio of 96.21, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. AppLovin Co. has a 1-year low of $34.45 and a 1-year high of $165.38.

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

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.