4,816 Shares in AppLovin Co. (NASDAQ:APP) Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,816 shares of the company’s stock, valued at approximately $401,000.

Several other large investors have also recently modified their holdings of APP. Sapient Capital LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at about $165,057,000. CWM LLC increased its position in 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 purchasing an additional 401 shares during the period. Handelsbanken Fonder AB raised its holdings in AppLovin by 32.8% during the 4th quarter. Handelsbanken Fonder AB now owns 32,400 shares of the company’s stock worth $1,291,000 after purchasing an additional 8,000 shares during the last quarter. California Public Employees Retirement System raised its holdings in AppLovin by 4.5% during the 4th quarter. California Public Employees Retirement System now owns 406,300 shares of the company’s stock worth $16,191,000 after purchasing an additional 17,604 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of AppLovin in the 4th quarter worth approximately $47,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Down 0.3 %

APP stock traded down $0.31 during midday trading on Monday, reaching $89.89. 2,054,827 shares of the company’s stock traded hands, compared to its average volume of 4,086,273. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 4.59. The firm’s fifty day moving average price is $81.06 and its 200-day moving average price is $74.39. AppLovin Co. has a 52 week low of $34.45 and a 52 week high of $92.50. The company has a market cap of $29.58 billion, a price-to-earnings ratio of 53.51, a P/E/G ratio of 1.27 and a beta of 1.86.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data 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. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. The business’s revenue was up 44.0% on a year-over-year basis. During the same period last year, the company earned $0.22 earnings per share. As a group, sell-side analysts forecast that AppLovin Co. will post 2.96 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 11,276 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $75.71, for a total value of $853,705.96. Following the completion of the sale, the insider now directly owns 437,214 shares of the company’s stock, valued at approximately $33,101,471.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other AppLovin news, insider Victoria Valenzuela sold 11,276 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $75.71, for a total value of $853,705.96. Following the transaction, the insider now owns 437,214 shares of the company’s stock, valued at $33,101,471.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 118,839 shares of AppLovin stock in a transaction 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 $693,468,938.25. The disclosure for this sale can be found here. In the last three months, insiders sold 637,071 shares of company stock valued at $53,971,086. 14.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

APP has been the subject of several recent analyst reports. Benchmark increased their price objective on shares of AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday. Oppenheimer reissued an “outperform” rating and issued a $105.00 price objective (up from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Wedbush cut their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Jefferies Financial Group lifted their target price on AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.86.

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.