AppLovin Co. (NASDAQ:APP) Shares Purchased by Encompass More Asset Management

Encompass More Asset Management lifted its position in shares of AppLovin Co. (NASDAQ:APP) by 12.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,975 shares of the company’s stock after buying an additional 334 shares during the quarter. Encompass More Asset Management’s holdings in AppLovin were worth $388,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. JAT Capital Mgmt LP purchased a new stake in shares of AppLovin in the third quarter valued at $12,402,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in AppLovin by 3.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 487,376 shares of the company’s stock valued at $63,627,000 after buying an additional 14,274 shares during the period. Circle Wealth Management LLC acquired a new position in shares of AppLovin during the 3rd quarter valued at about $296,000. Fred Alger Management LLC lifted its holdings in shares of AppLovin by 1.3% during the 3rd quarter. Fred Alger Management LLC now owns 3,539,467 shares of the company’s stock worth $462,077,000 after acquiring an additional 46,854 shares during the period. Finally, Captrust Financial Advisors boosted its position in shares of AppLovin by 5.6% in the third quarter. Captrust Financial Advisors now owns 183,211 shares of the company’s stock worth $23,918,000 after acquiring an additional 9,791 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Trading Up 2.5 %

NASDAQ:APP opened at $336.75 on Friday. The stock has a market cap of $113.01 billion, a price-to-earnings ratio of 102.05, a price-to-earnings-growth ratio of 4.05 and a beta of 1.86. AppLovin Co. has a one year low of $35.79 and a one year high of $344.77. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The business’s 50-day simple moving average is $197.69 and its 200 day simple moving average is $123.96.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 EPS. As a group, sell-side analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Matthew Stumpf sold 21,101 shares of AppLovin stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $332.67, for a total value of $7,019,669.67. Following the completion of the transaction, the chief financial officer now owns 213,336 shares in the company, valued at approximately $70,970,487.12. This trade represents a 9.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 884,395 shares of company stock valued at $243,101,629 in the last ninety days. Corporate insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on APP shares. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Loop Capital upped their price target on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $103.00 to $150.00 in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.57.

About AppLovin

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.