EP Wealth Advisors LLC Takes Position in AppLovin Co. (NYSE:APP)

EP Wealth Advisors LLC acquired a new stake in shares of AppLovin Co. (NYSE:APP) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,305 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors have also recently made changes to their positions in APP. Signaturefd LLC grew its position in shares of AppLovin by 74.9% during the first quarter. Signaturefd LLC now owns 1,810 shares of the company’s stock valued at $29,000 after purchasing an additional 775 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of AppLovin by 254.5% during the first quarter. Parkside Financial Bank & Trust now owns 1,861 shares of the company’s stock valued at $29,000 after purchasing an additional 1,336 shares in the last quarter. Rebalance LLC purchased a new position in shares of AppLovin during the fourth quarter valued at about $37,000. Manchester Capital Management LLC purchased a new position in AppLovin in the first quarter worth about $39,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in AppLovin in the first quarter worth about $42,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other AppLovin news, Director Eduardo Vivas sold 474,357 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $41.76, for a total transaction of $19,809,148.32. Following the completion of the sale, the director now owns 9,078,178 shares in the company, valued at $379,104,713.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Denali Holdings L.P. Kkr sold 10,000,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $37.00, for a total transaction of $370,000,000.00. Following the completion of the sale, the insider now owns 19,644,896 shares in the company, valued at approximately $726,861,152. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eduardo Vivas sold 474,357 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $41.76, for a total value of $19,809,148.32. Following the sale, the director now owns 9,078,178 shares of the company’s stock, valued at approximately $379,104,713.28. The disclosure for this sale can be found here. Insiders sold a total of 25,610,250 shares of company stock worth $947,717,590 over the last 90 days. Company insiders own 12.43% of the company’s stock.

AppLovin Stock Up 2.8 %

Shares of NYSE APP opened at $44.01 on Tuesday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 2.87 and a current ratio of 2.87. The firm has a market capitalization of $15.31 billion, a price-to-earnings ratio of 733.62, a PEG ratio of 2.75 and a beta of 1.82. The stock has a 50 day moving average price of $35.91 and a 200 day moving average price of $25.26. AppLovin Co. has a 52-week low of $9.14 and a 52-week high of $44.89.

AppLovin (NYSE:APP) last posted its earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.14. The company had revenue of $750.17 million during the quarter, compared to analyst estimates of $724.41 million. AppLovin had a return on equity of 5.51% and a net margin of 0.70%. AppLovin’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Sell-side analysts expect that AppLovin Co. will post 0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BTIG Research boosted their price objective on AppLovin from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Truist Financial boosted their price objective on AppLovin from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Jefferies Financial Group raised AppLovin from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $50.00 in a research note on Tuesday, August 22nd. Citigroup boosted their price objective on AppLovin from $32.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Finally, JPMorgan Chase & Co. boosted their price objective on AppLovin from $21.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.88.

AppLovin Profile

AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction; and Wurl, a connected TV platform, which primarily distributes streaming video for content companies.