Oppenheimer Asset Management Inc. Grows Holdings in AppLovin Co. (NASDAQ:APP)

Oppenheimer Asset Management Inc. grew its stake in AppLovin Co. (NASDAQ:APP) by 10.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,351 shares of the company’s stock after buying an additional 2,385 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AppLovin were worth $3,440,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in AppLovin in the 3rd quarter worth approximately $25,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin in the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin in the 3rd quarter valued at $29,000. Quest Partners LLC purchased a new stake in shares of AppLovin in the 2nd quarter valued at $33,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of AppLovin in the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the transaction, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 3.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 235,542 shares of company stock worth $32,012,275 in the last three months. 14.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on APP shares. Macquarie upped their price objective on shares of AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Bank of America upped their price objective on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Jefferies Financial Group upped their price objective on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Citigroup upped their price target on shares of AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, BTIG Research upped their price target on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $194.31.

AppLovin Stock Up 2.3 %

Shares of NASDAQ APP opened at $291.09 on Friday. 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 Co. has a 12 month low of $35.79 and a 12 month high of $302.55. The firm has a market capitalization of $97.30 billion, a PE ratio of 88.21, a price-to-earnings-growth ratio of 3.49 and a beta of 1.86. The firm has a fifty day simple moving average of $159.14 and a two-hundred day simple moving average of $108.57.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during 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 company’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. Equities analysts expect that AppLovin Co. will post 4.06 earnings per share for the current 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.