Meeder Asset Management Inc. Makes New $27,000 Investment in AppLovin Co. (NASDAQ:APP)

Meeder Asset Management Inc. purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 204 shares of the company’s stock, valued at approximately $27,000.

A number of other institutional investors also recently bought and sold shares of the stock. WCM Investment Management LLC increased its position in AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. Lone Pine Capital LLC grew its position in AppLovin by 7.2% in the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after acquiring an additional 382,767 shares in the last quarter. Jericho Capital Asset Management L.P. increased its stake in AppLovin by 185.0% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after acquiring an additional 2,525,240 shares during the last quarter. Fred Alger Management LLC purchased a new position in shares of AppLovin in the 2nd quarter worth approximately $290,655,000. Finally, Whale Rock Capital Management LLC purchased a new stake in AppLovin during the 1st quarter valued at $195,129,000. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling at AppLovin

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vasily Shikin sold 154,500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the transaction, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 221,376 shares of company stock worth $30,737,619 over the last three months. Corporate insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday. Jefferies Financial Group increased their price target on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Loop Capital increased their target price on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Piper Sandler began coverage on shares of AppLovin in a report on Wednesday. They issued an “overweight” rating and a $400.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.96.

AppLovin Trading Down 1.9 %

APP opened at $318.99 on Friday. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $342.51. The stock has a fifty day moving average price of $176.89 and a 200-day moving average price of $115.35. The firm has a market cap of $107.05 billion, a price-to-earnings ratio of 96.67, a PEG ratio of 3.95 and a beta of 1.86. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was up 38.6% on a year-over-year basis. As a group, equities research analysts anticipate that AppLovin Co. will post 4.06 earnings per share 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.