168,234 Shares in AppLovin Co. (NASDAQ:APP) Acquired by Annex Advisory Services LLC

Annex Advisory Services LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 168,234 shares of the company’s stock, valued at approximately $11,645,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Gulf International Bank UK Ltd acquired a new position in AppLovin in the 1st quarter worth approximately $1,131,000. CWM LLC boosted its stake in shares of AppLovin by 16.3% during the 4th quarter. CWM LLC now owns 2,864 shares of the company’s stock valued at $114,000 after buying an additional 401 shares during the period. Contrarius Investment Management Ltd acquired a new stake in shares of AppLovin during the 4th quarter valued at $7,334,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of AppLovin during the 4th quarter valued at $2,284,000. Finally, Los Angeles Capital Management LLC boosted its stake in shares of AppLovin by 76.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 415,501 shares of the company’s stock valued at $28,761,000 after buying an additional 180,459 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the sale, the insider now directly owns 471,560 shares in the company, valued at approximately $35,371,715.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other AppLovin news, Director Dawson Alyssa Harvey sold 4,371 shares of AppLovin stock in a transaction 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 transaction, the director now owns 11,565 shares in the company, valued at approximately $874,892.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Victoria Valenzuela sold 50,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the sale, the insider now owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,741,886 shares of company stock worth $1,478,219,330. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on APP. Morgan Stanley lifted their target price on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Oppenheimer restated an “outperform” rating and set a $97.00 price target on shares of AppLovin in a report on Thursday, June 13th. The Goldman Sachs Group raised their price target on shares of AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 9th. TheStreet upgraded shares of AppLovin from a “d+” rating to a “c-” rating in a report on Friday, March 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $71.72.

AppLovin Stock Performance

Shares of NASDAQ:APP traded up $3.00 on Tuesday, hitting $81.05. 1,246,283 shares of the company were exchanged, compared to its average volume of 4,264,370. The company’s 50 day moving average price is $78.16 and its two-hundred day moving average price is $62.01. AppLovin Co. has a one year low of $23.48 and a one year high of $88.50. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11. The firm has a market capitalization of $26.67 billion, a price-to-earnings ratio of 46.46, a PEG ratio of 1.33 and a beta of 1.88.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $973.70 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. The business’s revenue was up 47.9% compared to the same quarter last year. Research analysts expect that AppLovin Co. will post 2.96 earnings per share 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.