AppLovin Co. (NASDAQ:APP) Shares Bought by Commerce Bank

Commerce Bank boosted its stake in shares of AppLovin Co. (NASDAQ:APP) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,782 shares of the company’s stock after acquiring an additional 221 shares during the quarter. Commerce Bank’s holdings in AppLovin were worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in AppLovin during the 3rd quarter worth approximately $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the 3rd quarter valued at approximately $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter valued at approximately $29,000. Finally, Quest Partners LLC acquired a new stake in shares of AppLovin in the 2nd quarter valued at approximately $33,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APP has been the subject of several recent analyst reports. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and raised their price target for the company from $103.00 to $150.00 in a report on Monday, October 14th. Stifel Nicolaus raised their price target on AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and raised their price objective for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. Wells Fargo & Company raised their price objective on AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Finally, Citigroup raised their price objective on AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $222.96.

Insider Activity

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. This trade represents a 12.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Stumpf sold 21,101 shares of AppLovin stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $332.67, for a total value of $7,019,669.67. Following the completion of the transaction, the chief financial officer now owns 213,336 shares in the company, valued at $70,970,487.12. The trade was a 9.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 854,065 shares of company stock valued at $233,072,408 over the last quarter. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

AppLovin stock opened at $333.31 on Monday. The company has a market capitalization of $111.86 billion, a price-to-earnings ratio of 101.00, a PEG ratio of 3.92 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 fifty-two week low of $35.79 and a fifty-two week high of $342.51. The stock has a fifty day moving average of $181.30 and a two-hundred day moving average of $117.71.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion during 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 business’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, analysts anticipate that AppLovin Co. will post 4.05 EPS for the current fiscal 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.