AppLovin Co. (NASDAQ:APP) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in AppLovin Co. (NASDAQ:APP) by 31.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 982,038 shares of the company’s stock after acquiring an additional 237,146 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.29% of AppLovin worth $128,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. FMR LLC raised its stake in shares of AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares during the last quarter. Fred Alger Management LLC purchased a new position in AppLovin during the 2nd quarter worth $290,655,000. 1832 Asset Management L.P. lifted its stake in shares of AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after acquiring an additional 1,357,400 shares during the period. WCM Investment Management LLC boosted its holdings in shares of AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after acquiring an additional 1,029,009 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its stake in shares of AppLovin by 2,200.4% during the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after acquiring an additional 500,407 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

APP has been the topic of a number of analyst reports. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Wedbush restated an “outperform” rating and issued a $270.00 price target (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Loop Capital boosted their target price on shares of AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Macquarie upped their price target on shares of AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $265.57.

AppLovin Stock Performance

NASDAQ APP opened at $336.75 on Monday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $113.01 billion, a price-to-earnings ratio of 102.05, a price-to-earnings-growth ratio of 4.15 and a beta of 1.86. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $344.77. The business has a fifty day moving average of $201.91 and a 200-day moving average of $126.00.

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

Insiders Place Their Bets

In other AppLovin news, Director Eduardo Vivas sold 30,330 shares of AppLovin stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $330.67, for a total value of $10,029,221.10. Following the completion of the sale, the director now owns 90,576 shares in the company, valued at $29,950,765.92. The trade was a 25.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Vasily Shikin sold 154,500 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the transaction, the chief technology officer now directly owns 4,530,455 shares of the company’s stock, valued at approximately $381,192,483.70. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 884,395 shares of company stock valued at $243,101,629. Company insiders own 14.69% of the company’s stock.

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.