Loomis Sayles & Co. L P Makes New Investment in AppLovin Co. (NASDAQ:APP)

Loomis Sayles & Co. L P acquired a new stake in shares of AppLovin Co. (NASDAQ:APP) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,151 shares of the company’s stock, valued at approximately $672,000.

A number of other large investors have also modified their holdings of APP. Capital Performance Advisors LLP bought a new position in AppLovin during the third quarter worth about $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the 3rd quarter valued at $27,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin in the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin during the 3rd quarter worth about $29,000. Finally, Quest Partners LLC bought a new position in AppLovin during the 2nd quarter valued at about $33,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of AppLovin stock opened at $328.56 on Friday. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $344.77. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $110.26 billion, a price-to-earnings ratio of 99.56, a PEG ratio of 3.94 and a beta of 1.86. The firm has a fifty day moving average of $193.60 and a two-hundred day moving average of $122.53.

AppLovin (NASDAQ:APP) last released 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 firm 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%. The company’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. As a group, equities research analysts predict that AppLovin Co. will post 4.05 EPS for the current year.

Insider Buying and Selling

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This trade represents a 12.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Matthew Stumpf sold 21,101 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $332.67, for a total value of $7,019,669.67. Following the completion of the transaction, the chief financial officer now directly owns 213,336 shares of the company’s stock, valued at approximately $70,970,487.12. The trade was a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 854,065 shares of company stock valued at $233,072,408 in the last 90 days. 14.69% of the stock is owned by insiders.

Wall Street Analyst Weigh In

APP has been the topic of several research analyst reports. Oppenheimer upped their price objective on shares of AppLovin from $260.00 to $480.00 and gave the stock an “outperform” rating in a research note on Monday. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and raised their price target for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Wells Fargo & Company boosted their price objective on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. raised their target price on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Bank of America upped their price target on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.57.

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.