3,352 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Interchange Capital Partners LLC

Interchange Capital Partners LLC acquired a new stake in shares of AppLovin Co. (NASDAQ:APP) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,352 shares of the company’s stock, valued at approximately $438,000.

A number of other hedge funds also recently added to or reduced their stakes in APP. Fred Alger Management LLC purchased a new stake in shares of AppLovin in the second quarter valued at about $290,655,000. Whale Rock Capital Management LLC acquired a new stake in AppLovin in the first quarter valued at about $195,129,000. Jericho Capital Asset Management L.P. boosted its holdings in AppLovin by 185.0% in the 1st 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 in the last quarter. 1832 Asset Management L.P. increased its position in AppLovin by 977.2% during the 2nd 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 period. Finally, Jackson Square Partners LLC purchased a new position in shares of AppLovin during the 1st quarter worth approximately $54,736,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $75.68, for a total value of $5,472,193.76. Following the completion of the sale, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 610,094 shares of company stock worth $51,022,478. 14.69% of the stock is currently owned by insiders.

AppLovin Trading Down 1.0 %

APP stock traded down $1.65 during trading on Friday, reaching $167.74. 1,110,477 shares of the stock traded hands, compared to its average volume of 4,124,534. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $174.46. The firm has a market capitalization of $56.07 billion, a PE ratio of 72.82, a P/E/G ratio of 2.47 and a beta of 1.92. The business’s 50 day moving average price is $126.27 and its 200-day moving average price is $95.70.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm’s revenue was up 44.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 EPS. As a group, sell-side analysts forecast that AppLovin Co. will post 3.47 earnings per share for the current year.

Analysts Set New Price Targets

APP has been the topic of a number of analyst reports. Loop Capital assumed coverage on AppLovin in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 price target on the stock. 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. BTIG Research increased their price target on shares of AppLovin from $150.00 to $202.00 and gave the company a “buy” rating in a report on Wednesday. Oppenheimer boosted their price objective on shares of AppLovin from $105.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Macquarie reaffirmed an “outperform” rating and issued a $150.00 target price (up from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. One research 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. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $136.78.

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.