Delap Wealth Advisory LLC Purchases Shares of 3,042 AppLovin Co. (NASDAQ:APP)

Delap Wealth Advisory LLC acquired a new stake in AppLovin Co. (NASDAQ:APP) in the 1st quarter, HoldingsChannel reports. The fund acquired 3,042 shares of the company’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Shell Asset Management Co. lifted its stake in AppLovin by 68.8% in the first quarter. Shell Asset Management Co. now owns 6,301 shares of the company’s stock worth $436,000 after acquiring an additional 2,569 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of AppLovin by 131,600.0% in the 1st quarter. Bessemer Group Inc. now owns 6,585 shares of the company’s stock valued at $456,000 after acquiring an additional 6,580 shares during the period. UniSuper Management Pty Ltd acquired a new position in shares of AppLovin in the 1st quarter valued at $180,000. Clearbridge Investments LLC increased its holdings in shares of AppLovin by 719.4% in the 1st quarter. Clearbridge Investments LLC now owns 516,509 shares of the company’s stock valued at $35,753,000 after acquiring an additional 453,477 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in AppLovin by 604.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 80,333 shares of the company’s stock valued at $5,561,000 after buying an additional 68,925 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other news, CMO Katie Kihorany Jansen sold 147,984 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $82.29, for a total transaction of $12,177,603.36. Following the transaction, the chief marketing officer now directly owns 1,264,284 shares in the company, valued at approximately $104,037,930.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CMO Katie Kihorany Jansen sold 147,984 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $82.29, for a total transaction of $12,177,603.36. Following the transaction, the chief marketing officer now directly owns 1,264,284 shares in the company, valued at approximately $104,037,930.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $81.37, for a total transaction of $235,159.30. Following the completion of the transaction, the insider now owns 448,490 shares in the company, valued at approximately $36,493,631.30. The disclosure for this sale can be found here. Insiders have sold a total of 17,857,726 shares of company stock worth $1,489,251,374 in the last three months. Company insiders own 14.69% of the company’s stock.

AppLovin Trading Up 1.9 %

NASDAQ:APP traded up $1.42 on Friday, reaching $77.59. The stock had a trading volume of 838,369 shares, compared to its average volume of 4,108,989. The company has a market cap of $25.53 billion, a price-to-earnings ratio of 45.34, a P/E/G ratio of 1.33 and a beta of 1.86. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11. The firm’s fifty day moving average is $81.96 and its two-hundred day moving average is $68.67. AppLovin Co. has a 12-month low of $28.99 and a 12-month high of $91.91.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $973.70 million. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The firm’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. Equities analysts expect that AppLovin Co. will post 2.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on APP shares. BTIG Research boosted their price objective on shares of AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Oppenheimer reissued an “outperform” rating and issued a $97.00 price objective on shares of AppLovin in a research note on Thursday, June 13th. The Goldman Sachs Group boosted their target price on shares of AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Jefferies Financial Group boosted their target price on shares of AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $71.72.

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.