Natixis Advisors LLC Boosts Holdings in AppLovin Co. (NASDAQ:APP)

Natixis Advisors LLC lifted its stake in AppLovin Co. (NASDAQ:APP) by 20.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,856 shares of the company’s stock after buying an additional 38,718 shares during the period. Natixis Advisors LLC’s holdings in AppLovin were worth $29,224,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in AppLovin during the 3rd quarter worth $25,000. DT Investment Partners LLC purchased a new position in AppLovin during the 3rd quarter worth $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin during the 3rd quarter worth $29,000. Quest Partners LLC purchased a new position in AppLovin during the 2nd quarter worth $33,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in AppLovin during the 2nd quarter worth $34,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 154,500 shares of the stock in a transaction on 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 sale, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. This trade represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 235,542 shares of company stock worth $32,012,275. 14.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Oppenheimer raised their price objective on shares of AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Jefferies Financial Group raised their price objective on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Wedbush reissued an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Finally, Loop Capital raised their target price on shares of AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $194.31.

AppLovin Stock Performance

APP opened at $291.09 on Monday. The stock’s 50 day simple moving average is $159.14 and its 200 day simple moving average is $109.11. The stock has a market cap of $97.69 billion, a P/E ratio of 88.21, a P/E/G ratio of 3.58 and a beta of 1.86. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $302.55. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

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

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.