First Trust Advisors LP Raises Holdings in AppLovin Co. (NASDAQ:APP)

First Trust Advisors LP increased its holdings in AppLovin Co. (NASDAQ:APPFree Report) by 42.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,298,740 shares of the company’s stock after acquiring an additional 686,258 shares during the period. First Trust Advisors LP owned approximately 0.68% of AppLovin worth $91,605,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC acquired a new position in AppLovin during the fourth quarter worth $32,000. GAMMA Investing LLC acquired a new position in AppLovin during the fourth quarter worth $47,000. Lindbrook Capital LLC lifted its stake in AppLovin by 26.6% during the fourth quarter. Lindbrook Capital LLC now owns 1,337 shares of the company’s stock worth $53,000 after purchasing an additional 281 shares in the last quarter. Acadian Asset Management LLC acquired a new position in AppLovin during the third quarter worth $59,000. Finally, Cullen Frost Bankers Inc. lifted its stake in AppLovin by 81.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 2,000 shares of the company’s stock worth $80,000 after purchasing an additional 900 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In related news, Director Craig Scott Billings sold 5,620 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $84.97, for a total value of $477,531.40. Following the sale, the director now owns 1,780 shares of the company’s stock, valued at approximately $151,246.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Craig Scott Billings sold 5,620 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $84.97, for a total value of $477,531.40. Following the sale, the director now owns 1,780 shares of the company’s stock, valued at approximately $151,246.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Matthew Stumpf sold 2,775 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the completion of the sale, the chief financial officer now directly owns 362,264 shares in the company, valued at approximately $22,931,311.20. The disclosure for this sale can be found here. Insiders have sold 17,722,024 shares of company stock valued at $1,476,624,224 in the last quarter. 14.69% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on APP shares. Jefferies Financial Group upped their price target on AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. TheStreet upgraded AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. The Goldman Sachs Group increased their price objective on AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Daiwa Capital Markets assumed coverage on AppLovin in a research note on Monday, April 15th. They issued a “neutral” rating and a $80.00 price objective on the stock. Finally, BTIG Research increased their price objective on AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.72.

Check Out Our Latest Report on AppLovin

AppLovin Stock Performance

NASDAQ APP opened at $83.67 on Thursday. The business’s 50 day moving average is $76.71 and its two-hundred day moving average is $58.15. The stock has a market capitalization of $27.53 billion, a price-to-earnings ratio of 49.80, a PEG ratio of 1.38 and a beta of 1.88. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59. AppLovin Co. has a 12-month low of $21.03 and a 12-month high of $88.50.

AppLovin (NASDAQ:APPGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $973.70 million. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The company’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.01) EPS. Research analysts expect that AppLovin Co. will post 2.96 EPS for the current year.

About AppLovin

(Free Report)

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.

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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