US Bancorp DE raised its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,986 shares of the company's stock after purchasing an additional 3,771 shares during the period. US Bancorp DE's holdings in AppLovin were worth $7,048,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of APP. DT Investment Partners LLC purchased a new stake in AppLovin during the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. bought a new stake in shares of AppLovin during the third quarter valued at about $29,000. HM Payson & Co. boosted its position in shares of AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company's stock valued at $39,000 after acquiring an additional 100 shares during the period. ORG Wealth Partners LLC purchased a new position in AppLovin during the third quarter valued at approximately $42,000. Finally, Quest Partners LLC bought a new stake in AppLovin during the 2nd quarter worth approximately $33,000. Institutional investors own 41.85% of the company's stock.
In other AppLovin news, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the sale, the chief marketing officer now 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 610,094 shares of company stock worth $51,022,478. Insiders own 14.69% of the company's stock.
AppLovin stock opened at $163.53 on Monday. The firm has a fifty day simple moving average of $127.73 and a two-hundred day simple moving average of $96.69. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $174.46. The company has a market capitalization of $54.66 billion, a PE ratio of 69.59, a P/E/G ratio of 2.44 and a beta of 1.86. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.
AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share 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%. AppLovin's quarterly revenue was up 44.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 EPS. Research analysts expect that AppLovin Co. will post 3.47 EPS for the current year.
Several research analysts have commented on the stock. Jefferies Financial Group raised their price target on shares of AppLovin from $105.00 to $108.00 and gave the company a "buy" rating in a report on Tuesday, September 10th. Bank of America boosted their target price on AppLovin from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. The Goldman Sachs Group cut AppLovin from a "buy" rating to a "neutral" rating and raised their price target for the company from $103.00 to $150.00 in a report on Monday, October 14th. Oppenheimer boosted their price objective on AppLovin from $105.00 to $180.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Finally, Loop Capital assumed coverage on shares of AppLovin in a research note on Tuesday, October 22nd. They issued a "buy" rating and a $181.00 target price on the stock. One equities 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $136.78.
Read Our Latest Stock Analysis on 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider AppLovin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AppLovin wasn't on the list.
While AppLovin currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.