LGT Group Foundation Acquires New Shares in AppLovin Co. (NASDAQ:APP)

LGT Group Foundation bought a new position in shares of AppLovin Co. (NASDAQ:APP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 48,109 shares of the company’s stock, valued at approximately $4,004,000.

Several other large investors have also bought and sold shares of the stock. Choreo LLC bought a new position in AppLovin during the 2nd quarter worth $491,000. Prudential PLC raised its position in AppLovin by 307.6% during the 2nd quarter. Prudential PLC now owns 16,705 shares of the company’s stock worth $1,390,000 after purchasing an additional 12,607 shares during the last quarter. Quest Partners LLC bought a new position in AppLovin during the 2nd quarter worth $33,000. Mount Lucas Management LP bought a new position in AppLovin during the 2nd quarter worth $546,000. Finally, Emerald Advisers LLC bought a new position in AppLovin during the 2nd quarter worth $186,000. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the transaction, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the transaction, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the transaction, the director now owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 630,081 shares of company stock worth $53,384,695. Insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on APP shares. Benchmark lifted their price objective on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. Wedbush lowered their price objective on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Oppenheimer reissued an “outperform” rating and issued a $105.00 price objective (up from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.86.

AppLovin Stock Performance

Shares of APP opened at $86.31 on Tuesday. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a 50-day moving average of $82.93 and a 200-day moving average of $77.20. The company has a market cap of $28.85 billion, a PE ratio of 51.38, a P/E/G ratio of 1.22 and a beta of 1.88. AppLovin Co. has a one year low of $34.45 and a one year high of $93.70.

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