Assetmark Inc. Acquires 5,480 Shares of AppLovin Co. (NASDAQ:APP)

Assetmark Inc. lifted its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 131.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,637 shares of the company's stock after buying an additional 5,480 shares during the quarter. Assetmark Inc.'s holdings in AppLovin were worth $1,258,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. SG Americas Securities LLC increased its holdings in shares of AppLovin by 33.5% during the 1st quarter. SG Americas Securities LLC now owns 4,100 shares of the company's stock worth $284,000 after buying an additional 1,028 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of AppLovin by 9.7% during the 1st quarter. QRG Capital Management Inc. now owns 7,988 shares of the company's stock valued at $553,000 after buying an additional 705 shares during the last quarter. US Bancorp DE increased its holdings in AppLovin by 45.1% in the first quarter. US Bancorp DE now owns 11,172 shares of the company's stock valued at $773,000 after buying an additional 3,472 shares during the last quarter. Bleakley Financial Group LLC acquired a new stake in AppLovin during the first quarter valued at approximately $258,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of AppLovin in the 1st quarter worth approximately $343,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Stock Performance

APP traded up $0.02 during trading on Friday, hitting $284.51. 2,381,808 shares of the company traded hands, compared to its average volume of 4,302,046. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market cap of $95.10 billion, a P/E ratio of 86.21, a price-to-earnings-growth ratio of 3.49 and a beta of 1.86. AppLovin Co. has a one year low of $35.79 and a one year high of $302.55. The stock's fifty day moving average is $155.01 and its 200 day moving average is $107.06.

AppLovin (NASDAQ:APP - Get Free Report) last posted 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. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company earned $0.30 earnings per share. The company's revenue was up 38.6% on a year-over-year basis. As a group, equities analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on APP. BTIG Research boosted their target price on shares of AppLovin from $202.00 to $291.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted their target price on AppLovin from $185.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Wedbush restated an "outperform" rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Oppenheimer raised their price objective on shares of AppLovin from $180.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group raised their price objective on shares of AppLovin from $105.00 to $108.00 and gave the stock a "buy" rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $194.31.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction dated Thursday, August 22nd. The shares were 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 directly owns 352,616 shares of the company's stock, valued at $31,728,387.68. This trade represents a 3.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Vasily Shikin sold 154,500 shares of AppLovin stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the transaction, the chief technology officer now owns 4,530,455 shares of the company's stock, valued at $381,192,483.70. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 235,542 shares of company stock valued at $32,012,275. Insiders own 14.69% of the company's stock.

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.