AppLovin Co. (NASDAQ:APP) Shares Sold by Measured Wealth Private Client Group LLC

Measured Wealth Private Client Group LLC trimmed its holdings in shares of AppLovin Co. (NASDAQ:APP) by 9.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,953 shares of the company’s stock after selling 403 shares during the period. Measured Wealth Private Client Group LLC’s holdings in AppLovin were worth $516,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Lone Pine Capital LLC increased its holdings in AppLovin by 7.2% in the 2nd 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. lifted its position in shares of 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 purchasing an additional 2,525,240 shares in the last quarter. Fred Alger Management LLC acquired a new stake in shares of AppLovin during the second quarter worth about $290,655,000. Whale Rock Capital Management LLC acquired a new stake in shares of AppLovin during the first quarter worth about $195,129,000. Finally, 1832 Asset Management L.P. increased its stake in shares of AppLovin by 977.2% during the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after buying an additional 1,357,400 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction 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 sale, the insider now directly owns 352,616 shares of the company’s stock, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the transaction, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at $88,121,489.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock worth $51,022,478 in the last 90 days. 14.69% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on APP shares. Stifel Nicolaus upped their target price on shares of AppLovin from $100.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $57.00 to $160.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Bank of America raised their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Benchmark increased their price target on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. Finally, Citigroup increased their price target on AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $136.78.

AppLovin Trading Down 0.6 %

AppLovin stock opened at $170.56 on Thursday. The stock has a market cap of $57.01 billion, a PE ratio of 73.04, a P/E/G ratio of 2.07 and a beta of 1.92. The stock has a 50-day moving average price of $124.66 and a 200 day moving average price of $95.19. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $174.46. 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 (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The firm’s revenue was up 44.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. Equities research analysts predict that AppLovin Co. will post 3.46 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.