AppLovin Co. (NASDAQ:APP) Shares Purchased by Barclays PLC

Barclays PLC grew its position in shares of AppLovin Co. (NASDAQ:APP) by 92.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 318,992 shares of the company’s stock after acquiring an additional 153,248 shares during the quarter. Barclays PLC owned about 0.10% of AppLovin worth $41,643,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of APP. Capital Performance Advisors LLP acquired a new position in AppLovin during the 3rd quarter worth $25,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin in the third quarter valued at approximately $27,000. DT Investment Partners LLC bought a new stake in AppLovin during the third quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new position in shares of AppLovin during the 3rd quarter valued at $29,000. Finally, HM Payson & Co. lifted its holdings in shares of AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the period. Institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on APP. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $103.00 to $150.00 in a report on Monday, October 14th. Wedbush reiterated an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Loop Capital raised their price objective on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Insider Activity

In related news, Director Herald Y. Chen sold 99,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at approximately $204,688,365.50. This trade represents a 13.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the sale, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. This trade represents a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 872,896 shares of company stock worth $279,773,021. 14.69% of the stock is owned by corporate insiders.

AppLovin Trading Down 3.5 %

NASDAQ APP opened at $326.21 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 1-year low of $36.33 and a 1-year high of $417.64. The firm’s fifty day simple moving average is $242.30 and its 200-day simple moving average is $142.69. The company has a market capitalization of $109.47 billion, a PE ratio of 98.85, a price-to-earnings-growth ratio of 4.95 and a beta of 2.27.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business’s revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. As a group, sell-side analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

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.