DT Investment Partners LLC acquired a new stake in AppLovin Co. (NASDAQ:APP – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 206 shares of the company’s stock, valued at approximately $27,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lone Pine Capital LLC lifted its stake in shares of AppLovin by 7.2% in the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after purchasing an additional 382,767 shares during the period. Jericho Capital Asset Management L.P. lifted its position in shares of AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after acquiring an additional 2,525,240 shares during the period. Fred Alger Management LLC purchased a new stake in shares of AppLovin during the 2nd quarter worth approximately $290,655,000. Whale Rock Capital Management LLC purchased a new stake in shares of AppLovin during the 1st quarter worth approximately $195,129,000. Finally, 1832 Asset Management L.P. grew its holdings 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. Institutional investors and hedge funds own 41.85% of the company’s stock.
Insider Buying and Selling
In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other AppLovin news, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the transaction, the chief marketing officer now owns 1,164,396 shares in the company, valued at $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Read Our Latest Stock Analysis on AppLovin
AppLovin Stock Up 1.7 %
Shares of NASDAQ:APP opened at $161.63 on Friday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The firm has a market cap of $53.18 billion, a price-to-earnings ratio of 96.21, a PEG ratio of 2.07 and a beta of 1.92. The stock’s 50-day moving average price is $119.72 and its two-hundred day moving average price is $93.11. AppLovin Co. has a 12-month low of $34.45 and a 12-month high of $165.38.
AppLovin (NASDAQ:APP – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. AppLovin’s revenue was up 44.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. On average, research analysts forecast that AppLovin Co. will post 3.46 EPS 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.
Featured Stories
- Five stocks we like better than AppLovin
- What is a SEC Filing?
- Texas Roadhouse Stock Steering for New Highs This Year
- Low PE Growth Stocks: Unlocking Investment Opportunities
- Monopar Therapeutics Skyrockets 400% on Licensing Deal
- What is a Bond Market Holiday? How to Invest and Trade
- Tractor Supply Stock Pulls Back: A Prime Buying Opportunity
Receive News & Ratings for AppLovin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AppLovin and related companies with MarketBeat.com's FREE daily email newsletter.