Alps Advisors Inc. Invests $948,000 in AppLovin Co. (NASDAQ:APP)

Alps Advisors Inc. acquired a new position in AppLovin Co. (NASDAQ:APPFree Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 23,728 shares of the company’s stock, valued at approximately $948,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in AppLovin by 7.8% during the third quarter. Vanguard Group Inc. now owns 15,387,994 shares of the company’s stock valued at $299,911,000 after acquiring an additional 1,115,232 shares during the period. BlackRock Inc. increased its stake in AppLovin by 2.4% during the second quarter. BlackRock Inc. now owns 8,335,764 shares of the company’s stock valued at $214,479,000 after acquiring an additional 195,030 shares during the period. Spruce House Investment Management LLC increased its stake in AppLovin by 33.7% during the fourth quarter. Spruce House Investment Management LLC now owns 5,000,000 shares of the company’s stock valued at $52,650,000 after acquiring an additional 1,259,199 shares during the period. First Trust Advisors LP increased its stake in AppLovin by 3.7% during the first quarter. First Trust Advisors LP now owns 4,040,013 shares of the company’s stock valued at $63,630,000 after acquiring an additional 144,035 shares during the period. Finally, State Street Corp increased its stake in AppLovin by 14.0% during the third quarter. State Street Corp now owns 3,465,241 shares of the company’s stock valued at $67,538,000 after acquiring an additional 424,435 shares during the period. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $63.19 on Friday. The firm has a market cap of $21.61 billion, a PE ratio of 63.19, a price-to-earnings-growth ratio of 1.22 and a beta of 1.88. The firm’s fifty day moving average is $48.12 and its 200-day moving average is $42.66. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. AppLovin Co. has a 52 week low of $11.69 and a 52 week high of $63.84.

AppLovin (NASDAQ:APPGet Free Report) last announced its earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The business had revenue of $953.26 million during the quarter, compared to the consensus estimate of $928.66 million. During the same quarter last year, the firm earned ($0.21) earnings per share. AppLovin’s quarterly revenue was up 35.7% on a year-over-year basis. Sell-side analysts predict that AppLovin Co. will post 2.5 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on APP. Morgan Stanley lifted their price objective on AppLovin from $40.00 to $43.50 and gave the company an “equal weight” rating in a report on Thursday, November 9th. Stifel Nicolaus lifted their price objective on AppLovin from $45.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Benchmark lifted their price objective on AppLovin from $22.00 to $28.00 and gave the company a “sell” rating in a report on Thursday, November 9th. The Goldman Sachs Group lifted their price objective on AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Finally, Wedbush lifted their price objective on AppLovin from $58.50 to $67.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.04.

Check Out Our Latest Stock Analysis on APP

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 26,097 shares of AppLovin stock in a transaction on Monday, December 11th. The shares were sold at an average price of $36.98, for a total transaction of $965,067.06. Following the completion of the transaction, the insider now owns 588,346 shares of the company’s stock, valued at $21,757,035.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other AppLovin news, insider Victoria Valenzuela sold 26,097 shares of AppLovin stock in a transaction on Monday, December 11th. The shares were sold at an average price of $36.98, for a total value of $965,067.06. Following the completion of the sale, the insider now directly owns 588,346 shares of the company’s stock, valued at $21,757,035.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eduardo Vivas sold 244,764 shares of AppLovin stock in a transaction on Monday, December 11th. The shares were sold at an average price of $36.98, for a total transaction of $9,051,372.72. Following the completion of the sale, the director now directly owns 8,456,453 shares of the company’s stock, valued at $312,719,631.94. The disclosure for this sale can be found here. Insiders sold 662,840 shares of company stock valued at $24,736,395 over the last quarter. Insiders own 12.43% of the company’s stock.

AppLovin Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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