1,717 Shares in AppLovin Co. (NASDAQ:APP) Acquired by Second Half Financial Partners LLC

Second Half Financial Partners LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,717 shares of the company's stock, valued at approximately $224,000.

Other institutional investors have also recently added to or reduced their stakes in the company. WCM Investment Management LLC increased its holdings in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company's stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the period. Lone Pine Capital LLC increased its stake in AppLovin by 7.2% during the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company's stock valued at $474,557,000 after buying an additional 382,767 shares during the period. Jericho Capital Asset Management L.P. raised its position in shares of AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company's stock worth $269,305,000 after buying an additional 2,525,240 shares in the last quarter. Fred Alger Management LLC acquired a new stake in shares of AppLovin in the 2nd quarter worth approximately $290,655,000. Finally, Whale Rock Capital Management LLC bought a new position in shares of AppLovin in the first quarter valued at approximately $195,129,000. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group upgraded AppLovin from a "neutral" rating to a "buy" rating and upped their target price for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Wells Fargo & Company started coverage on AppLovin in a research note on Monday, October 28th. They set an "overweight" rating and a $200.00 target price for the company. BTIG Research boosted their price target on shares of AppLovin from $202.00 to $291.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Wedbush reissued an "outperform" rating and issued a $270.00 price target (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $160.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AppLovin has a consensus rating of "Moderate Buy" and an average price target of $203.13.

AppLovin Stock Up 7.8 %

NASDAQ:APP traded up $23.19 during trading hours on Tuesday, hitting $321.19. 5,592,030 shares of the company's stock traded hands, compared to its average volume of 4,412,029. The stock's fifty day moving average price is $163.37 and its two-hundred day moving average price is $110.70. The firm has a market cap of $107.79 billion, a P/E ratio of 90.30, a P/E/G ratio of 3.58 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $323.59.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm's quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. On average, research analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the sale, the chief marketing officer now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction dated 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 owns 10,247 shares of the company's stock, valued at approximately $900,711.30. This represents a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 235,542 shares of company stock worth $32,012,275 in the last quarter. 14.69% of the stock is currently owned by corporate insiders.

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.