Sivia Capital Partners LLC Takes $339,000 Position in AppLovin Co. (NASDAQ:APP)

Sivia Capital Partners LLC purchased a new position in shares of AppLovin Co. (NASDAQ:APP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,077 shares of the company’s stock, valued at approximately $339,000.

Several other large investors have also recently added to or reduced their stakes in APP. Precision Wealth Strategies LLC purchased a new position in AppLovin in the fourth quarter worth $324,000. Victory Capital Management Inc. increased its holdings in shares of AppLovin by 5.2% in the 4th quarter. Victory Capital Management Inc. now owns 261,024 shares of the company’s stock valued at $10,402,000 after purchasing an additional 12,803 shares in the last quarter. Amalgamated Bank lifted its stake in shares of AppLovin by 41.0% in the fourth quarter. Amalgamated Bank now owns 49,388 shares of the company’s stock valued at $1,968,000 after purchasing an additional 14,354 shares during the period. M&T Bank Corp boosted its holdings in AppLovin by 37.3% during the fourth quarter. M&T Bank Corp now owns 21,660 shares of the company’s stock worth $863,000 after buying an additional 5,883 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in AppLovin by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,695 shares of the company’s stock worth $40,715,000 after buying an additional 31,773 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on APP. Wedbush reduced their price objective on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Citigroup increased their price objective on shares of AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Benchmark raised their target price on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.86.

Insiders Place Their Bets

In related news, CFO Matthew Stumpf sold 60,615 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the transaction, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Stumpf sold 60,615 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the transaction, the chief financial officer now owns 254,458 shares in the company, valued at approximately $20,262,490.54. The disclosure for this sale can be found here. Insiders have sold a total of 630,081 shares of company stock worth $53,384,695 over the last quarter. 14.69% of the stock is owned by corporate insiders.

AppLovin Trading Down 4.1 %

APP stock opened at $84.57 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a market cap of $27.82 billion, a price-to-earnings ratio of 50.34, a PEG ratio of 1.33 and a beta of 1.88. The business has a fifty day simple moving average of $82.90 and a 200-day simple moving average of $76.72. AppLovin Co. has a 52 week low of $34.45 and a 52 week high of $93.70.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) 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 84.16% and a net margin of 20.89%. The company’s revenue for the quarter was up 44.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. On average, equities research analysts expect that AppLovin Co. will post 3.48 EPS for the current year.

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.