Aptus Capital Advisors LLC Invests $2.78 Million in AppLovin Co. (NASDAQ:APP)

Aptus Capital Advisors LLC acquired a new position in AppLovin Co. (NASDAQ:APP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 33,374 shares of the company’s stock, valued at approximately $2,777,000.

Several other institutional investors have also recently made changes to their positions in the business. WCM Investment Management LLC bought a new stake in AppLovin during the 1st quarter worth approximately $497,488,000. Jericho Capital Asset Management L.P. raised its stake in AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after acquiring an additional 2,525,240 shares during the period. Whale Rock Capital Management LLC bought a new stake in AppLovin during the 1st quarter worth approximately $195,129,000. First Trust Advisors LP raised its stake in AppLovin by 42.6% during the 4th quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock worth $91,605,000 after acquiring an additional 686,258 shares during the period. Finally, Norges Bank bought a new stake in AppLovin during the 4th quarter worth approximately $43,973,000. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wedbush decreased their target price on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Citigroup lifted their price objective on shares of AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, May 10th. BTIG Research lifted their price objective on shares of AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Benchmark lifted their price objective on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research report on Friday, August 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $82.86.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 11,276 shares of AppLovin stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $75.71, for a total transaction of $853,705.96. Following the completion of the transaction, the insider now directly owns 437,214 shares of the company’s stock, valued at $33,101,471.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Dawson Alyssa Harvey sold 4,371 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $75.65, for a total transaction of $330,666.15. Following the completion of the sale, the director now directly owns 11,565 shares of the company’s stock, valued at $874,892.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 11,276 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $75.71, for a total transaction of $853,705.96. Following the sale, the insider now directly owns 437,214 shares of the company’s stock, valued at $33,101,471.94. The disclosure for this sale can be found here. Insiders sold 637,071 shares of company stock valued at $53,971,086 over the last three months. 14.69% of the stock is owned by company insiders.

AppLovin Stock Up 1.4 %

NASDAQ APP opened at $92.87 on Monday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a fifty day moving average of $82.19 and a two-hundred day moving average of $75.94. The firm has a market capitalization of $30.56 billion, a price-to-earnings ratio of 55.28, a PEG ratio of 1.33 and a beta of 1.86. AppLovin Co. has a 52 week low of $34.45 and a 52 week high of $93.70.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.77 by $0.12. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. AppLovin’s quarterly revenue was up 44.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. On average, analysts predict that AppLovin Co. will post 3.48 earnings per share for the current year.

AppLovin 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.