Investment House LLC Decreases Stock Holdings in AppLovin Co. (NASDAQ:APP)

Investment House LLC lowered its position in AppLovin Co. (NASDAQ:APP) by 68.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,240 shares of the company’s stock after selling 26,904 shares during the period. Investment House LLC’s holdings in AppLovin were worth $1,019,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in AppLovin by 9,470.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after acquiring an additional 248,022 shares during the period. Gulf International Bank UK Ltd acquired a new position in AppLovin in the first quarter valued at approximately $1,131,000. Acadian Asset Management LLC lifted its holdings in AppLovin by 2,081.4% in the first quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after acquiring an additional 15,590 shares during the period. Janney Montgomery Scott LLC lifted its holdings in AppLovin by 167.0% in the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after acquiring an additional 10,099 shares during the period. Finally, CWM LLC lifted its holdings in AppLovin by 16.3% in the fourth quarter. CWM LLC now owns 2,864 shares of the company’s stock valued at $114,000 after acquiring an additional 401 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wedbush reduced their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group upped their target price on AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. BTIG Research upped their target price on AppLovin from $87.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Jefferies Financial Group upped their target price on AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.94.

AppLovin Trading Up 5.0 %

NASDAQ:APP traded up $4.31 during trading hours on Wednesday, hitting $90.89. The company had a trading volume of 3,530,976 shares, compared to its average volume of 4,118,158. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59. The company has a 50-day moving average of $80.25 and a 200 day moving average of $73.47. The company has a market cap of $29.90 billion, a P/E ratio of 54.10, a P/E/G ratio of 1.27 and a beta of 1.86. AppLovin Co. has a 1 year low of $34.45 and a 1 year high of $91.91.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The company’s revenue was up 44.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 EPS. Sell-side analysts expect that AppLovin Co. will post 2.96 earnings per share for the current year.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 4,371 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $75.65, for a total value of $330,666.15. Following the sale, the director now owns 11,565 shares of the company’s stock, valued at approximately $874,892.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other AppLovin news, Director Dawson Alyssa Harvey sold 4,371 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $75.65, for a total value of $330,666.15. Following the sale, the director now owns 11,565 shares of the company’s stock, valued at approximately $874,892.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo Vivas sold 118,839 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $90.75, for a total value of $10,784,639.25. Following the completion of the sale, the director now directly owns 7,641,531 shares in the company, valued at approximately $693,468,938.25. The disclosure for this sale can be found here. Insiders sold 635,660 shares of company stock worth $53,704,202 in the last three months. 14.69% of the stock is owned by company insiders.

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.