Los Angeles Capital Management LLC lifted its stake in shares of AppLovin Co. (NASDAQ:APP – Free Report) by 76.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 415,501 shares of the company’s stock after buying an additional 180,459 shares during the quarter. Los Angeles Capital Management LLC owned about 0.12% of AppLovin worth $28,761,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in AppLovin by 8.5% in the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock valued at $723,245,000 after purchasing an additional 1,411,453 shares during the period. Sapient Capital LLC acquired a new stake in AppLovin in the 4th quarter valued at $165,057,000. First Trust Advisors LP grew its position in AppLovin by 42.6% in the 4th quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock valued at $91,605,000 after purchasing an additional 686,258 shares during the period. Ameriprise Financial Inc. boosted its holdings in AppLovin by 4,805.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock worth $56,050,000 after acquiring an additional 1,374,066 shares during the last quarter. Finally, Norges Bank purchased a new position in AppLovin during the 4th quarter worth $43,973,000. Institutional investors and hedge funds own 41.85% of the company’s stock.
Insider Transactions at AppLovin
In other news, insider Victoria Valenzuela sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value of $3,750,500.00. Following the transaction, the insider now owns 471,560 shares in the company, valued at $35,371,715.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Victoria Valenzuela sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value of $3,750,500.00. Following the transaction, the insider now owns 471,560 shares in the company, valued at $35,371,715.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig Scott Billings sold 5,620 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $84.97, for a total value of $477,531.40. Following the completion of the sale, the director now directly owns 1,780 shares of the company’s stock, valued at approximately $151,246.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,741,886 shares of company stock worth $1,478,219,330. Insiders own 14.69% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. Morgan Stanley lifted their price objective on shares of AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. The Goldman Sachs Group lifted their price objective on shares of AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. BTIG Research lifted their price objective on shares of AppLovin from $87.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Stifel Nicolaus lifted their price objective on shares of AppLovin from $85.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Citigroup lifted their target price on AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average target price of $71.72.
Get Our Latest Stock Report on APP
AppLovin Price Performance
Shares of APP stock traded up $2.38 during trading on Wednesday, hitting $80.84. The company had a trading volume of 4,370,271 shares, compared to its average volume of 4,308,666. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 4.59. The stock’s 50-day moving average is $77.81 and its two-hundred day moving average is $60.54. The stock has a market capitalization of $26.60 billion, a price-to-earnings ratio of 48.12, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88. AppLovin Co. has a 52 week low of $22.85 and a 52 week high of $88.50.
AppLovin (NASDAQ:APP – Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $973.70 million. During the same period last year, the business earned ($0.01) earnings per share. The business’s quarterly revenue was up 47.9% on a year-over-year basis. As a group, analysts predict that AppLovin Co. will post 2.96 EPS for the current fiscal 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.
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