Ascent Group LLC Purchases Shares of 4,137 AppLovin Co. (NASDAQ:APP)

Ascent Group LLC acquired a new stake in shares of AppLovin Co. (NASDAQ:APP) during the third quarter, HoldingsChannel reports. The fund acquired 4,137 shares of the company’s stock, valued at approximately $540,000.

A number of other large investors also recently modified their holdings of APP. FMR LLC raised its holdings in shares of AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after buying an additional 6,801,138 shares in the last quarter. Fred Alger Management LLC bought a new stake in shares of AppLovin in the 2nd quarter worth approximately $290,655,000. 1832 Asset Management L.P. grew its position 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 buying an additional 1,357,400 shares during the last quarter. WCM Investment Management LLC grew its position in shares of AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after buying an additional 1,029,009 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its position 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 valued at $68,297,000 after purchasing an additional 500,407 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APP has been the topic of several research reports. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and upped their price objective for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. Macquarie upped their price objective on AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Bank of America raised their price objective on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Loop Capital increased their target price on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $265.57.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 5,500 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $86.04, for a total value of $473,220.00. Following the completion of the transaction, the chief technology officer now owns 4,536,447 shares of the company’s stock, valued at $390,315,899.88. The trade was a 0.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matthew Stumpf sold 21,101 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $332.67, for a total value of $7,019,669.67. Following the completion of the transaction, the chief financial officer now directly owns 213,336 shares of the company’s stock, valued at approximately $70,970,487.12. This trade represents a 9.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 914,895 shares of company stock worth $253,462,174. 14.69% of the stock is currently owned by insiders.

AppLovin Trading Up 2.0 %

Shares of NASDAQ:APP opened at $373.70 on Thursday. AppLovin Co. has a 12-month low of $35.79 and a 12-month high of $384.50. The business’s fifty day simple moving average is $210.94 and its 200-day simple moving average is $130.10. The company has a market capitalization of $125.41 billion, a PE ratio of 113.24, a P/E/G ratio of 4.20 and a beta of 2.28. 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 announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $0.30 EPS. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. As a group, equities research analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

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.