SG Americas Securities LLC Grows Position in AppLovin Co. (NASDAQ:APP)

SG Americas Securities LLC increased its holdings in AppLovin Co. (NASDAQ:APP) by 101.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,268 shares of the company’s stock after acquiring an additional 4,168 shares during the quarter. SG Americas Securities LLC’s holdings in AppLovin were worth $688,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC purchased a new stake in AppLovin in the fourth quarter worth about $32,000. Covestor Ltd lifted its stake in AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after acquiring an additional 236 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in AppLovin in the second quarter worth about $37,000. Atlas Capital Advisors LLC purchased a new stake in AppLovin in the first quarter worth about $38,000. Finally, ORG Partners LLC lifted its stake in AppLovin by 212.0% in the first quarter. ORG Partners LLC now owns 624 shares of the company’s stock worth $43,000 after acquiring an additional 424 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AppLovin news, Director Eduardo Vivas sold 118,839 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the sale, the director now owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other AppLovin news, Director Eduardo Vivas sold 118,839 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the sale, the director now owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 4,371 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $75.65, for a total value of $330,666.15. Following the completion of the sale, the director now owns 11,565 shares in the company, valued at approximately $874,892.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 409,350 shares of company stock worth $34,147,941. Corporate insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on APP. Oppenheimer reiterated an “outperform” rating and issued a $105.00 target price (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Jefferies Financial Group boosted their target price on shares of AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. BTIG Research boosted their target price on shares of AppLovin from $87.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. The Goldman Sachs Group boosted their target price on shares of AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Citigroup boosted their target price on shares of AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $79.94.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $86.35 on Monday. AppLovin Co. has a twelve month low of $34.45 and a twelve month high of $91.91. The company’s 50 day moving average is $79.95 and its 200 day moving average is $72.87. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59. The company has a market cap of $28.41 billion, a PE ratio of 51.40, a price-to-earnings-growth ratio of 1.27 and a beta of 1.86.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.12. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company earned $0.22 EPS. AppLovin’s quarterly revenue was up 44.0% on a year-over-year basis. On average, sell-side analysts forecast that AppLovin Co. will post 2.96 EPS for the current 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.