206 Shares in AppLovin Co. (NASDAQ:APP) Purchased by DT Investment Partners LLC

DT Investment Partners LLC acquired a new stake in AppLovin Co. (NASDAQ:APP) 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

A number of analysts have commented on APP shares. Jefferies Financial Group boosted their target price on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $57.00 to $160.00 and gave the company a “neutral” rating in a research note on Tuesday. BTIG Research lifted their target price on shares of AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Macquarie reaffirmed an “outperform” rating and issued a $150.00 price target (up previously from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Finally, The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $129.58.

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) 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.