Pathstone Holdings LLC Raises Holdings in AppLovin Co. (NASDAQ:APP)

Pathstone Holdings LLC increased its holdings in AppLovin Co. (NASDAQ:APP) by 5.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,866 shares of the company’s stock after buying an additional 1,042 shares during the period. Pathstone Holdings LLC’s holdings in AppLovin were worth $2,594,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. WCM Investment Management LLC boosted its holdings in shares of AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. Lone Pine Capital LLC boosted its stake in AppLovin by 7.2% in the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after acquiring an additional 382,767 shares in the last quarter. Fred Alger Management LLC purchased a new position in AppLovin in the second quarter worth $290,655,000. 1832 Asset Management L.P. increased its position in shares of AppLovin by 977.2% during the second 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of AppLovin by 27.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,494,516 shares of the company’s stock valued at $124,372,000 after purchasing an additional 322,563 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on APP. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and upped their target price for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. Macquarie increased their price objective on shares of AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Benchmark reissued a “sell” rating and set a $66.00 target price on shares of AppLovin in a research report on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price objective on shares of AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $249.34.

AppLovin Stock Down 4.1 %

Shares of APP stock opened at $319.59 on Tuesday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $344.77. The stock has a 50 day moving average of $185.37 and a 200 day moving average of $119.37. The stock has a market cap of $107.25 billion, a P/E ratio of 96.85, a P/E/G ratio of 4.11 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion during 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 business’s revenue was up 38.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 EPS. As a group, sell-side analysts expect that AppLovin Co. will post 4.05 EPS for the current year.

Insider Transactions at AppLovin

In related news, Director Craig Scott Billings sold 18,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the sale, the director now owns 2,987 shares of the company’s stock, valued at approximately $952,673.78. The trade was a 85.77 % 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, CFO Matthew Stumpf sold 21,101 shares of the company’s 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 transaction, the chief financial officer now owns 213,336 shares of the company’s stock, valued at $70,970,487.12. This represents a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 854,065 shares of company stock valued at $233,072,408 in the last ninety days. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Company 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.