Crossmark Global Holdings Inc. Takes Position in AppLovin Co. (NASDAQ:APP)

Crossmark Global Holdings Inc. acquired a new position in AppLovin Co. (NASDAQ:APP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,209 shares of the company’s stock, valued at approximately $289,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HM Payson & Co. lifted its holdings in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. GAMMA Investing LLC lifted its stake in AppLovin by 8.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after acquiring an additional 126 shares during the period. American Trust boosted its holdings in shares of AppLovin by 2.8% during the 1st quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after acquiring an additional 150 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of AppLovin by 1.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,627 shares of the company’s stock worth $1,741,000 after acquiring an additional 157 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in shares of AppLovin during the third quarter valued at approximately $25,000. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Up 2.3 %

NASDAQ APP opened at $291.09 on Monday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $302.55. The stock’s 50 day moving average is $159.14 and its 200 day moving average is $109.11. The stock has a market cap of $97.69 billion, a PE ratio of 88.21, a P/E/G ratio of 3.58 and a beta of 1.86.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The firm 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%. AppLovin’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. Research analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Activity

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction that occurred on 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 transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the sale, the chief technology officer now owns 4,530,455 shares in the company, valued at $381,192,483.70. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 235,542 shares of company stock worth $32,012,275 over the last 90 days. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on APP. Wells Fargo & Company began coverage on shares of AppLovin in a research report on Monday, October 28th. They issued an “overweight” rating and a $200.00 target price for the company. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $103.00 to $150.00 in a report on Monday, October 14th. BTIG Research increased their target price on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Bank of America boosted their price target on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Oppenheimer increased their price objective on shares of AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $194.31.

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.