Algert Global LLC Has $5.20 Million Position in AppLovin Co. (NASDAQ:APP)

Algert Global LLC grew its stake in shares of AppLovin Co. (NASDAQ:APP) by 491.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,865 shares of the company’s stock after acquiring an additional 33,129 shares during the period. Algert Global LLC’s holdings in AppLovin were worth $5,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of APP. Cerity Partners LLC grew its stake in AppLovin by 36.3% in the third quarter. Cerity Partners LLC now owns 18,120 shares of the company’s stock valued at $2,366,000 after purchasing an additional 4,822 shares in the last quarter. Great Valley Advisor Group Inc. grew its stake in shares of AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after buying an additional 60 shares in the last quarter. Citigroup Inc. increased its holdings in AppLovin by 23.3% in the third quarter. Citigroup Inc. now owns 335,255 shares of the company’s stock worth $43,768,000 after buying an additional 63,246 shares during the last quarter. Raymond James Trust N.A. raised its position in AppLovin by 25.8% during the third quarter. Raymond James Trust N.A. now owns 3,279 shares of the company’s stock valued at $428,000 after acquiring an additional 672 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in AppLovin by 2,200.4% in the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after acquiring an additional 500,407 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on APP. Oppenheimer raised their price target on shares of AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Citigroup raised their target price on AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Jefferies Financial Group raised their price objective on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Bank of America upped their target price on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $222.96.

Insider Buying and Selling

In other AppLovin news, CFO Matthew Stumpf sold 21,101 shares of AppLovin stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the completion of the transaction, the chief financial officer now directly owns 213,336 shares of the company’s stock, valued at approximately $70,970,487.12. This trade represents a 9.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vasily Shikin sold 154,500 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the sale, the chief technology officer now directly owns 4,530,455 shares in the company, valued at approximately $381,192,483.70. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 854,065 shares of company stock worth $233,072,408 in the last 90 days. 14.69% of the stock is owned by company insiders.

AppLovin Stock Up 4.7 %

APP opened at $333.31 on Monday. The company has a market capitalization of $111.86 billion, a P/E ratio of 101.00, a P/E/G ratio of 3.92 and a beta of 1.86. 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 firm’s fifty day moving average price is $181.30 and its two-hundred day moving average price is $117.71. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $342.51.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion for 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%. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. On average, analysts anticipate that AppLovin Co. will post 4.05 EPS 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.