AppLovin Co. (NASDAQ:APP) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of AppLovin Co. (NASDAQ:APP) by 20.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,657 shares of the company’s stock after acquiring an additional 7,638 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AppLovin were worth $5,830,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Second Half Financial Partners LLC acquired a new stake in AppLovin in the 3rd quarter valued at about $224,000. Eagle Asset Management Inc. lifted its holdings in shares of AppLovin by 2,200.4% in the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after purchasing an additional 500,407 shares in the last quarter. WCM Investment Management LLC grew its position in shares of AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of AppLovin by 10.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 26,351 shares of the company’s stock worth $3,440,000 after purchasing an additional 2,385 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of AppLovin by 13.9% during the 3rd quarter. Swiss National Bank now owns 606,290 shares of the company’s stock worth $79,151,000 after purchasing an additional 74,200 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $86.04, for a total transaction of $473,220.00. Following the completion of the sale, the chief technology officer now owns 4,536,447 shares in the company, valued at $390,315,899.88. This trade represents a 0.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now owns 10,247 shares in the company, valued at $900,711.30. This represents a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 884,395 shares of company stock valued at $243,101,629. Corporate insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on APP shares. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Benchmark restated a “sell” rating and issued a $66.00 target price on shares of AppLovin in a report on Thursday, November 7th. Loop Capital lifted their price target on shares of AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Piper Sandler assumed coverage on shares of AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price objective for the company. Finally, Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $265.57.

AppLovin Price Performance

Shares of NASDAQ APP opened at $336.75 on Monday. 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 Co. has a 1-year low of $35.79 and a 1-year high of $344.77. The company has a market capitalization of $113.01 billion, a price-to-earnings ratio of 102.05, a PEG ratio of 4.15 and a beta of 1.86. The business has a 50-day moving average of $201.91 and a 200-day moving average of $126.00.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 122.24% and a net margin of 26.85%. AppLovin’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS. On average, equities analysts anticipate that AppLovin Co. will post 4.06 EPS for the current fiscal year.

About AppLovin

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.