Diversify Advisory Services LLC Boosts Stock Holdings in AppLovin Co. (NASDAQ:APP)

Diversify Advisory Services LLC boosted its stake in shares of AppLovin Co. (NASDAQ:APP) by 32.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,549 shares of the company’s stock after buying an additional 3,823 shares during the quarter. Diversify Advisory Services LLC’s holdings in AppLovin were worth $2,030,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of APP. Fred Alger Management LLC purchased a new position in shares of AppLovin during the 2nd quarter worth about $290,655,000. Whale Rock Capital Management LLC purchased a new position in AppLovin in the first quarter valued at about $195,129,000. Jericho Capital Asset Management L.P. lifted its stake in shares of 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 worth $269,305,000 after purchasing an additional 2,525,240 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of AppLovin by 977.2% in the second 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. Finally, Jackson Square Partners LLC acquired a new stake in shares of AppLovin in the first quarter valued at about $54,736,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In related news, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the transaction, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of AppLovin stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the sale, the chief financial officer now directly owns 254,458 shares in the company, valued at $20,262,490.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the transaction, the chief marketing officer now owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock valued at $51,022,478 over the last quarter. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $172.24 on Wednesday. The firm has a market cap of $56.67 billion, a price-to-earnings ratio of 102.52, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $172.55. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a 50-day moving average of $123.04 and a 200-day moving average of $94.65.

AppLovin (NASDAQ:APP) last announced its earnings results 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 return on equity of 84.16% and a net margin of 20.89%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm earned $0.22 earnings per share. AppLovin’s revenue for the quarter was up 44.0% compared to the same quarter last year. Analysts forecast that AppLovin Co. will post 3.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on APP shares. Loop Capital initiated coverage on shares of AppLovin in a report on Tuesday, October 22nd. They set a “buy” rating and a $181.00 price target for the company. Wells Fargo & Company assumed coverage on AppLovin in a report on Monday. They issued an “overweight” rating and a $200.00 price target for the company. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Citigroup lifted their price target on shares of AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, BTIG Research increased their price objective on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.72.

AppLovin Company 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.