Second Half Financial Partners LLC Takes $224,000 Position in AppLovin Co. (NASDAQ:APP)

Second Half Financial Partners LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,717 shares of the company’s stock, valued at approximately $224,000.

Several other large investors also recently bought and sold shares of APP. WCM Investment Management LLC grew its position in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. Lone Pine Capital LLC lifted its stake in AppLovin by 7.2% in the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after acquiring an additional 382,767 shares during the last quarter. Jericho Capital Asset Management L.P. grew its holdings 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 in the last quarter. Fred Alger Management LLC purchased a new stake in shares of AppLovin in the 2nd quarter valued at approximately $290,655,000. Finally, Whale Rock Capital Management LLC acquired a new stake in shares of AppLovin in the 1st quarter valued at $195,129,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $293.35 on Tuesday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a one year low of $35.79 and a one year high of $302.55. The company has a 50-day simple moving average of $163.37 and a 200-day simple moving average of $110.70. The stock has a market capitalization of $98.45 billion, a price-to-earnings ratio of 90.30, a PEG ratio of 3.58 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the sale, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. The trade was a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 235,542 shares of company stock valued at $32,012,275. 14.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on APP shares. Stifel Nicolaus boosted their target price on shares of AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Macquarie upped their price objective on AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. BTIG Research upped their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and increased their price target for the company from $103.00 to $150.00 in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $203.13.

AppLovin Company 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.