HM Payson & Co. Increases Stake in AppLovin Co. (NASDAQ:APP)

HM Payson & Co. boosted its stake in AppLovin Co. (NASDAQ:APP) by 50.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 300 shares of the company’s stock after buying an additional 100 shares during the period. HM Payson & Co.’s holdings in AppLovin were worth $39,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Diversified Trust Co purchased a new position in AppLovin during the first quarter valued at $233,000. Allspring Global Investments Holdings LLC increased its stake in shares of AppLovin by 177.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 340,823 shares of the company’s stock worth $23,592,000 after acquiring an additional 217,887 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in AppLovin during the 1st quarter valued at about $27,080,000. Principal Financial Group Inc. boosted its stake in AppLovin by 15.8% during the first quarter. Principal Financial Group Inc. now owns 18,007 shares of the company’s stock worth $1,246,000 after acquiring an additional 2,459 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new stake in AppLovin in the first quarter worth about $329,000. 41.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on APP shares. Citigroup boosted their price target on AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. BTIG Research boosted their target price on AppLovin from $150.00 to $202.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer raised their price target on AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $57.00 to $160.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and increased their price objective for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. One equities 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.78.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the transaction, the chief financial officer now owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the sale, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 610,094 shares of company stock worth $51,022,478. Corporate insiders own 14.69% of the company’s stock.

AppLovin Trading Down 3.5 %

AppLovin stock opened at $163.53 on Friday. The business has a 50-day simple moving average of $127.73 and a two-hundred day simple moving average of $96.51. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $174.46. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a market cap of $54.66 billion, a P/E ratio of 69.59, a P/E/G ratio of 2.47 and a beta of 1.92.

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

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.