Lingohr Asset Management GmbH Has $1.48 Million Position in AppLovin Co. (NASDAQ:APP)

Lingohr Asset Management GmbH reduced its position in shares of AppLovin Co. (NASDAQ:APP) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,337 shares of the company’s stock after selling 200 shares during the period. AppLovin accounts for approximately 3.6% of Lingohr Asset Management GmbH’s portfolio, 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.

Several other large investors also recently modified their holdings of APP. Fred Alger Management LLC purchased a new stake in shares of AppLovin in the 2nd quarter worth about $290,655,000. Whale Rock Capital Management LLC purchased a new position in AppLovin in the 1st quarter worth about $195,129,000. Jericho Capital Asset Management L.P. lifted its position 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 during the period. 1832 Asset Management L.P. boosted its holdings in 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 purchasing an additional 1,357,400 shares during the last quarter. Finally, WCM Investment Management LLC grew its position in AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares during the period. 41.85% of the stock is owned by institutional investors.

Insider Transactions at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction dated 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 completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the sale, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. The trade was a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 235,542 shares of company stock worth $32,012,275. 14.69% of the stock is currently owned by insiders.

AppLovin Trading Up 2.4 %

APP opened at $298.00 on Tuesday. The business’s 50 day moving average price is $163.37 and its 200 day moving average price is $110.70. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $100.01 billion, a PE ratio of 90.30, a P/E/G ratio of 3.58 and a beta of 1.86. AppLovin Co. has a one year low of $35.79 and a one year high of $302.55.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on APP shares. Stifel Nicolaus boosted their price target on AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Benchmark restated a “sell” rating and set a $66.00 target price on shares of AppLovin in a research report on Thursday, November 7th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and upped their target price for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and boosted their price target for the company from $103.00 to $150.00 in a report on Monday, October 14th. Finally, Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $203.13.

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.