Loomis Sayles & Co. L P Acquires New Stake in AppLovin Co. (NASDAQ:APP)

Loomis Sayles & Co. L P bought a new position in AppLovin Co. (NASDAQ:APP) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,151 shares of the company’s stock, valued at approximately $672,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APP. Fred Alger Management LLC acquired a new stake in AppLovin during the second quarter valued at approximately $290,655,000. 1832 Asset Management L.P. lifted its position in shares of AppLovin by 977.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after acquiring an additional 1,357,400 shares during the last quarter. WCM Investment Management LLC boosted its stake in shares of AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after acquiring an additional 1,029,009 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in shares of AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after acquiring an additional 500,407 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of AppLovin by 695.0% during the second quarter. Envestnet Asset Management Inc. now owns 549,453 shares of the company’s stock worth $45,725,000 after purchasing an additional 480,336 shares during the period. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the 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 sale, the director now owns 10,247 shares in the company, valued at $900,711.30. This represents a 12.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Vasily Shikin sold 154,500 shares of AppLovin stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the transaction, the chief technology officer now directly owns 4,530,455 shares in the company, valued at approximately $381,192,483.70. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 854,065 shares of company stock worth $233,072,408 over the last 90 days. Insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Citigroup boosted their price target on shares of AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. BTIG Research lifted their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Macquarie increased their target price on AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $265.57.

AppLovin Stock Down 0.4 %

APP stock opened at $328.56 on Friday. The firm has a market cap of $110.26 billion, a PE ratio of 99.56, a PEG ratio of 3.94 and a beta of 1.86. AppLovin Co. has a 1 year low of $35.79 and a 1 year high of $344.77. The company has a fifty day simple moving average of $193.60 and a 200 day simple moving average of $122.53. 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 quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. Sell-side analysts anticipate that AppLovin Co. will post 4.05 EPS 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.