AppLovin Co. (NASDAQ:APP) Shares Sold by Lingohr Asset Management GmbH

Lingohr Asset Management GmbH cut its holdings in AppLovin Co. (NASDAQ:APP) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,337 shares of the company’s stock after selling 200 shares during the period. AppLovin comprises about 3.6% of Lingohr Asset Management GmbH’s holdings, making the stock its largest position. Lingohr Asset Management GmbH’s holdings in AppLovin were worth $1,480,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of APP. HM Payson & Co. grew its position in shares of AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Aptus Capital Advisors LLC grew its position in shares of AppLovin by 0.3% during the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after acquiring an additional 104 shares during the last quarter. Ashton Thomas Securities LLC grew its position in AppLovin by 2.6% during the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock worth $626,000 after purchasing an additional 121 shares during the last quarter. GAMMA Investing LLC increased its position in AppLovin by 8.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after acquiring an additional 126 shares during the period. Finally, American Trust increased its holdings in shares of AppLovin by 2.8% in the first quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after purchasing an additional 150 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of AppLovin from $185.00 to $335.00 and gave the stock a “buy” rating in a report on Monday. Jefferies Financial Group upped their price target on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Stifel Nicolaus increased their price target on shares of AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $103.00 to $150.00 in a report on Monday, October 14th. Finally, Bank of America upped their price target on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $203.13.

Insiders Place Their Bets

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were 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 directly owns 10,247 shares of the company’s stock, valued at $900,711.30. The trade was a 12.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 235,542 shares of company stock valued at $32,012,275. Insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $298.00 on Tuesday. The company has a 50-day simple moving average of $163.37 and a 200-day simple moving average of $110.70. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market cap of $100.01 billion, a PE ratio of 90.30, a price-to-earnings-growth ratio of 3.58 and a beta of 1.86. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $302.55.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 EPS. On average, equities analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current year.

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.