AppLovin Co. (NASDAQ:APP) Holdings Boosted by MAI Capital Management

MAI Capital Management boosted its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,173 shares of the company's stock after purchasing an additional 2,419 shares during the quarter. MAI Capital Management's holdings in AppLovin were worth $15,036,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in APP. Capital Performance Advisors LLP purchased a new stake in AppLovin in the 3rd quarter worth $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the third quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin in the 3rd quarter valued at $29,000. Quest Partners LLC purchased a new position in AppLovin in the 2nd quarter valued at $33,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of AppLovin during the second quarter worth $34,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Trading Up 6.6 %

NASDAQ:APP traded up $19.60 during trading hours on Tuesday, reaching $317.60. 4,692,306 shares of the company were exchanged, compared to its average volume of 4,408,022. The firm has a market cap of $106.58 billion, a price-to-earnings ratio of 90.30, a PEG ratio of 3.58 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a 50 day simple moving average of $163.37 and a 200 day simple moving average of $110.70. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $323.59.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 in the prior year, the company earned $0.30 EPS. The company's revenue was up 38.6% on a year-over-year basis. As a group, analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group upgraded shares of AppLovin from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. JPMorgan Chase & Co. upped their price objective on AppLovin from $160.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Oppenheimer boosted their target price on shares of AppLovin from $180.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a report on Thursday, November 7th. Finally, Loop Capital upped their target price on shares of AppLovin from $181.00 to $385.00 and gave the company a "buy" rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AppLovin presently has a consensus rating of "Moderate Buy" and a consensus target price of $203.13.

Insider Buying and Selling

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of the company's stock in a transaction that occurred 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 transaction, the chief marketing officer now directly owns 1,017,388 shares of the company's stock, valued at $291,115,402.32. This represents a 5.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 154,500 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the sale, the chief technology officer now directly 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 235,542 shares of company stock valued at $32,012,275. Corporate insiders own 14.69% of the company's stock.

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.