CIBC Asset Management Inc Purchases 267 Shares of AppLovin Co. (NASDAQ:APP)

CIBC Asset Management Inc increased its holdings in shares of AppLovin Co. (NASDAQ:APP) by 3.6% during the third quarter, Holdings Channel.com reports. The firm owned 7,777 shares of the company’s stock after buying an additional 267 shares during the period. CIBC Asset Management Inc’s holdings in AppLovin were worth $1,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC bought a new position in shares of AppLovin during the 3rd quarter worth approximately $336,000. Balboa Wealth Partners increased its position in AppLovin by 21.4% during the 3rd quarter. Balboa Wealth Partners now owns 16,818 shares of the company’s stock valued at $2,196,000 after buying an additional 2,959 shares in the last quarter. Metis Global Partners LLC purchased a new stake in AppLovin in the third quarter valued at about $341,000. KBC Group NV grew its stake in shares of AppLovin by 35.1% during the third quarter. KBC Group NV now owns 728,016 shares of the company’s stock worth $95,042,000 after acquiring an additional 189,313 shares during the last quarter. Finally, D Orazio & Associates Inc. acquired a new position in shares of AppLovin during the third quarter valued at about $210,000. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on APP. Citigroup lifted their target price on shares of AppLovin from $185.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday. Stifel Nicolaus boosted their price objective on shares of AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $280.00 in a research note on Friday, November 8th. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Finally, Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $222.96.

AppLovin Price Performance

AppLovin stock opened at $325.22 on Thursday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $109.14 billion, a P/E ratio of 98.55, a P/E/G ratio of 3.58 and a beta of 1.86. AppLovin Co. has a 1 year low of $35.79 and a 1 year high of $342.51. The company’s fifty day moving average price is $172.62 and its 200 day moving average price is $113.92.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the business posted $0.30 earnings per share. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. As a group, equities research analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value 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. This trade represents a 5.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vasily Shikin sold 5,500 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $86.04, for a total transaction of $473,220.00. Following the transaction, the chief technology officer now directly owns 4,536,447 shares in the company, valued at approximately $390,315,899.88. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 221,376 shares of company stock valued at $30,737,619 over the last 90 days. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Company Profile

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.