FNY Investment Advisers LLC Acquires 2,900 Shares of AppLovin Co. (NYSE:APP)

FNY Investment Advisers LLC boosted its holdings in AppLovin Co. (NYSE:APP) by 28.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,250 shares of the company’s stock after acquiring an additional 2,900 shares during the quarter. FNY Investment Advisers LLC’s holdings in AppLovin were worth $340,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in APP. Vanguard Group Inc. lifted its position in shares of AppLovin by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 15,387,994 shares of the company’s stock worth $299,911,000 after buying an additional 1,115,232 shares in the last quarter. SVB Wealth LLC bought a new position in shares of AppLovin during the 1st quarter worth approximately $217,358,000. BlackRock Inc. lifted its position in shares of AppLovin by 16.1% during the 1st quarter. BlackRock Inc. now owns 5,718,851 shares of the company’s stock worth $314,938,000 after buying an additional 791,261 shares in the last quarter. Spruce House Investment Management LLC lifted its position in shares of AppLovin by 33.7% during the 4th quarter. Spruce House Investment Management LLC now owns 5,000,000 shares of the company’s stock worth $52,650,000 after buying an additional 1,259,199 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of AppLovin by 3.7% during the 1st quarter. First Trust Advisors LP now owns 4,040,013 shares of the company’s stock worth $63,630,000 after buying an additional 144,035 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Activity

In other news, Director Eduardo Vivas sold 474,357 shares of AppLovin stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $41.76, for a total transaction of $19,809,148.32. Following the completion of the sale, the director now directly owns 9,078,178 shares of the company’s stock, valued at approximately $379,104,713.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CMO Katie Kihorany Jansen sold 52,193 shares of AppLovin stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $39.88, for a total transaction of $2,081,456.84. Following the completion of the sale, the chief marketing officer now directly owns 1,334,208 shares of the company’s stock, valued at approximately $53,208,215.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eduardo Vivas sold 474,357 shares of AppLovin stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $41.76, for a total transaction of $19,809,148.32. Following the sale, the director now directly owns 9,078,178 shares of the company’s stock, valued at $379,104,713.28. The disclosure for this sale can be found here. Insiders sold 25,610,250 shares of company stock worth $947,717,590 in the last three months. Corporate insiders own 12.43% of the company’s stock.

AppLovin Price Performance

Shares of APP traded up $0.22 during mid-day trading on Friday, reaching $42.82. 6,482,767 shares of the stock traded hands, compared to its average volume of 2,877,851. The firm has a fifty day moving average price of $35.57 and a 200 day moving average price of $24.96. The company has a market cap of $14.89 billion, a price-to-earnings ratio of 713.67, a price-to-earnings-growth ratio of 2.64 and a beta of 1.82. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 2.09. AppLovin Co. has a 1 year low of $9.14 and a 1 year high of $43.76.

AppLovin (NYSE:APP) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.14. The firm had revenue of $750.17 million during the quarter, compared to analyst estimates of $724.41 million. AppLovin had a net margin of 0.70% and a return on equity of 5.51%. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.06) EPS. As a group, equities research analysts predict that AppLovin Co. will post 0.77 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on APP. Credit Suisse Group lifted their target price on shares of AppLovin from $49.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, August 10th. Benchmark lifted their price target on shares of AppLovin from $14.00 to $17.00 and gave the stock a “sell” rating in a report on Tuesday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $21.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, August 10th. Truist Financial lifted their price target on shares of AppLovin from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, August 14th. Finally, BTIG Research lifted their price target on shares of AppLovin from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $40.88.

AppLovin Profile

AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction; and Wurl, a connected TV platform, which primarily distributes streaming video for content companies.