Swiss National Bank raised its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 13.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 606,290 shares of the company's stock after purchasing an additional 74,200 shares during the period. Swiss National Bank owned 0.18% of AppLovin worth $79,151,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new stake in shares of AppLovin in the third quarter worth approximately $217,000. Mount Lucas Management LP lifted its holdings in AppLovin by 2.4% in the 3rd quarter. Mount Lucas Management LP now owns 6,717 shares of the company's stock valued at $877,000 after purchasing an additional 158 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of AppLovin by 20.9% during the third quarter. Natixis Advisors LLC now owns 223,856 shares of the company's stock worth $29,224,000 after buying an additional 38,718 shares in the last quarter. Empowered Funds LLC raised its position in shares of AppLovin by 394.6% in the third quarter. Empowered Funds LLC now owns 89,635 shares of the company's stock valued at $11,702,000 after buying an additional 71,514 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of AppLovin by 3.6% in the third quarter. CIBC Asset Management Inc now owns 7,777 shares of the company's stock worth $1,015,000 after buying an additional 267 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.
A number of analysts have commented on APP shares. Daiwa America upgraded shares of AppLovin from a "hold" rating to a "strong-buy" rating in a report on Friday, November 8th. Macquarie increased their price target on AppLovin from $150.00 to $270.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Stifel Nicolaus upped their target price on AppLovin from $185.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Oppenheimer lifted their price target on AppLovin from $180.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, Wedbush reissued an "outperform" rating and issued a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $203.13.
View Our Latest Stock Report on APP
APP stock opened at $321.19 on Wednesday. The business's fifty day moving average price is $168.07 and its 200 day moving average price is $112.43. AppLovin Co. has a 12-month low of $35.79 and a 12-month high of $323.59. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market capitalization of $107.79 billion, a PE ratio of 97.33, a P/E/G ratio of 3.58 and a beta of 1.86.
AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business's revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. On average, sell-side analysts anticipate that AppLovin Co. will post 4.06 EPS for the current year.
In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin 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. The trade was a 5.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. The trade was a 12.77 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 235,542 shares of company stock worth $32,012,275. Company insiders own 14.69% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider AppLovin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AppLovin wasn't on the list.
While AppLovin currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.