5,062 Shares in AppLovin Co. (NASDAQ:APP) Bought by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC purchased a new position in shares of AppLovin Co. (NASDAQ:APP) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,062 shares of the company’s stock, valued at approximately $661,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Lone Pine Capital LLC boosted its position in shares of AppLovin by 7.2% during the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after acquiring an additional 382,767 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its holdings in AppLovin by 185.0% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after purchasing an additional 2,525,240 shares in the last quarter. Fred Alger Management LLC bought a new stake in shares of AppLovin in the 2nd quarter valued at approximately $290,655,000. Whale Rock Capital Management LLC acquired a new position in shares of AppLovin in the 1st quarter worth approximately $195,129,000. Finally, 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 worth $124,522,000 after buying an additional 1,357,400 shares during the period. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 0.8 %

Shares of APP stock traded up $1.23 during mid-day trading on Thursday, hitting $160.63. The company’s stock had a trading volume of 191,577 shares, compared to its average volume of 4,162,977. The stock has a market cap of $52.85 billion, a price-to-earnings ratio of 94.88, a PEG ratio of 2.07 and a beta of 1.92. The business has a 50-day moving average price of $116.75 and a 200 day moving average price of $92.07. AppLovin Co. has a 52-week low of $34.45 and a 52-week high of $165.38. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was up 44.0% compared to the same quarter last year. Research analysts predict that AppLovin Co. will post 3.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on APP. BTIG Research upped their price target on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Oppenheimer boosted their target price on shares of AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and increased their target price for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. Jefferies Financial Group boosted their price target on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $57.00 to $160.00 and gave the stock a “neutral” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $129.58.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other AppLovin news, CTO Vasily Shikin sold 5,500 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $86.04, for a total value of $473,220.00. Following the completion of the sale, the chief technology officer now directly owns 4,536,447 shares in the company, valued at approximately $390,315,899.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction 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 sale, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 610,094 shares of company stock worth $51,022,478 over the last ninety days. Company insiders own 14.69% of the company’s stock.

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.