Harvest Fund Management Co. Ltd Grows Position in AppLovin Co. (NYSE:APP)

Harvest Fund Management Co. Ltd grew its stake in shares of AppLovin Co. (NYSE:APPFree Report) by 495.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,742 shares of the company’s stock after buying an additional 3,114 shares during the period. Harvest Fund Management Co. Ltd’s holdings in AppLovin were worth $149,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. AM Squared Ltd purchased a new stake in shares of AppLovin in the third quarter valued at $260,000. Donoghue Forlines LLC grew its position in shares of AppLovin by 223.6% in the third quarter. Donoghue Forlines LLC now owns 35,430 shares of the company’s stock valued at $1,416,000 after purchasing an additional 24,480 shares during the period. Los Angeles Capital Management LLC grew its position in shares of AppLovin by 454.0% in the third quarter. Los Angeles Capital Management LLC now owns 151,260 shares of the company’s stock valued at $6,044,000 after purchasing an additional 123,955 shares during the period. Victory Capital Management Inc. grew its position in shares of AppLovin by 289.5% in the third quarter. Victory Capital Management Inc. now owns 248,221 shares of the company’s stock valued at $9,919,000 after purchasing an additional 184,487 shares during the period. Finally, Black Swift Group LLC purchased a new stake in shares of AppLovin in the third quarter valued at $999,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Trading Up 5.1 %

NYSE:APP opened at $46.57 on Tuesday. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.61 and a current ratio of 1.61. AppLovin Co. has a one year low of $11.69 and a one year high of $46.59. The business’s 50-day simple moving average is $40.16 and its 200 day simple moving average is $38.60. The stock has a market cap of $15.64 billion, a price-to-earnings ratio of 155.23, a price-to-earnings-growth ratio of 1.42 and a beta of 1.69.

AppLovin (NYSE:APPGet Free Report) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. AppLovin had a return on equity of 11.48% and a net margin of 3.46%. The business had revenue of $864.26 million for the quarter, compared to analysts’ expectations of $794.43 million. As a group, sell-side analysts predict that AppLovin Co. will post 0.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on APP shares. The Goldman Sachs Group lifted their price objective on AppLovin from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, November 9th. Benchmark lifted their price objective on AppLovin from $22.00 to $28.00 and gave the company a “sell” rating in a research report on Thursday, November 9th. Morgan Stanley boosted their price target on AppLovin from $40.00 to $43.50 and gave the company an “equal weight” rating in a research report on Thursday, November 9th. Wedbush boosted their price target on AppLovin from $48.00 to $58.50 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Finally, UBS Group boosted their price target on AppLovin from $40.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.31.

Get Our Latest Stock Report on APP

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 927 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $39.16, for a total transaction of $36,301.32. Following the sale, the director now owns 13,307 shares in the company, valued at $521,102.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Craig Scott Billings sold 5,142 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $43.09, for a total transaction of $221,568.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 927 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $39.16, for a total value of $36,301.32. Following the sale, the director now owns 13,307 shares in the company, valued at $521,102.12. The disclosure for this sale can be found here. Insiders have sold 1,337,662 shares of company stock worth $51,027,923 over the last quarter. 12.43% of the stock is owned by corporate insiders.

AppLovin Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for AppLovin (NYSE:APP)

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