Smithbridge Asset Management Inc. DE Acquires Shares of 54,276 AppLovin Co. (NASDAQ:APP)

Smithbridge Asset Management Inc. DE acquired a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 54,276 shares of the company's stock, valued at approximately $7,086,000. AppLovin comprises approximately 1.2% of Smithbridge Asset Management Inc. DE's holdings, making the stock its 28th biggest position.

Several other large investors have also bought and sold shares of APP. Wealth Enhancement Advisory Services LLC grew its stake in shares of AppLovin by 39.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,563 shares of the company's stock worth $4,746,000 after buying an additional 19,381 shares during the last quarter. Diversified Trust Co acquired a new position in AppLovin in the 1st quarter worth about $233,000. Oak Thistle LLC bought a new position in AppLovin in the first quarter valued at about $284,000. Allspring Global Investments Holdings LLC boosted its stake in shares of AppLovin by 177.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 340,823 shares of the company's stock valued at $23,592,000 after purchasing an additional 217,887 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of AppLovin during the first quarter worth about $210,000. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of APP traded up $4.56 on Monday, reaching $166.19. 2,579,823 shares of the company's stock traded hands, compared to its average volume of 4,156,930. The stock's 50 day simple moving average is $121.33 and its two-hundred day simple moving average is $93.97. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $166.74. The stock has a market cap of $54.68 billion, a PE ratio of 98.92, a PEG ratio of 2.07 and a beta of 1.92.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the previous year, the company earned $0.22 earnings per share. The company's quarterly revenue was up 44.0% on a year-over-year basis. On average, analysts forecast that AppLovin Co. will post 3.46 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Vasily Shikin sold 5,500 shares of the company's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $86.04, for a total value of $473,220.00. Following the transaction, the chief technology officer now owns 4,536,447 shares of the company's stock, valued at approximately $390,315,899.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company's stock, valued at $900,711.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 610,094 shares of company stock worth $51,022,478. 14.69% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

APP has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on AppLovin from $57.00 to $160.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Jefferies Financial Group raised their price objective on AppLovin from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Tuesday, September 10th. Macquarie reissued an "outperform" rating and set a $150.00 target price (up previously from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. Citigroup boosted their price target on shares of AppLovin from $155.00 to $185.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Finally, Wedbush decreased their price objective on shares of AppLovin from $100.00 to $90.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and a consensus target price of $133.72.

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.