Burney Co. Buys Shares of 4,056 AppLovin Co. (NASDAQ:APP)

Burney Co. purchased a new position in shares of AppLovin Co. (NASDAQ:APP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,056 shares of the company’s stock, valued at approximately $338,000.

Other hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp increased its holdings in AppLovin by 9,470.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock worth $17,336,000 after acquiring an additional 248,022 shares in the last quarter. Gulf International Bank UK Ltd bought a new stake in shares of AppLovin during the 1st quarter valued at $1,131,000. Acadian Asset Management LLC lifted its stake in shares of AppLovin by 2,081.4% during the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after buying an additional 15,590 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of AppLovin by 167.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after buying an additional 10,099 shares in the last quarter. Finally, CWM LLC boosted its holdings in AppLovin by 16.3% in the 4th quarter. CWM LLC now owns 2,864 shares of the company’s stock worth $114,000 after buying an additional 401 shares during the period. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 0.6 %

Shares of NASDAQ:APP traded down $0.53 during trading on Friday, reaching $91.08. The company’s stock had a trading volume of 386,454 shares, compared to its average volume of 4,048,968. The firm’s 50 day simple moving average is $81.90 and its two-hundred day simple moving average is $75.21. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59. AppLovin Co. has a 12 month low of $34.45 and a 12 month high of $93.70. The stock has a market capitalization of $29.97 billion, a PE ratio of 54.53, a price-to-earnings-growth ratio of 1.27 and a beta of 1.86.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the business earned $0.22 EPS. The company’s quarterly revenue was up 44.0% on a year-over-year basis. On average, research analysts predict that AppLovin Co. will post 2.96 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 11,276 shares of the firm’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 owns 437,214 shares of the company’s stock, valued at $33,101,471.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Victoria Valenzuela sold 11,276 shares of AppLovin stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $75.71, for a total transaction of $853,705.96. Following the completion of the sale, the insider now directly owns 437,214 shares in the company, valued at $33,101,471.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 4,371 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $75.65, for a total transaction of $330,666.15. Following the sale, the director now directly owns 11,565 shares of the company’s stock, valued at $874,892.25. The disclosure for this sale can be found here. Insiders have sold 637,071 shares of company stock worth $53,971,086 over the last quarter. Insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on APP. Citigroup raised their price target on AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a report on Friday, May 10th. Benchmark boosted their price target on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Jefferies Financial Group lifted their price objective on shares of AppLovin from $93.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Stifel Nicolaus upped their target price on shares of AppLovin from $85.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.86.

About AppLovin

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.