Truvestments Capital LLC Grows Stake in AppLovin Co. (NASDAQ:APP)

Truvestments Capital LLC lifted its holdings in shares of AppLovin Co. (NASDAQ:APP) by 3,888.0% during the first quarter, Holdings Channel.com reports. The fund owned 3,988 shares of the company’s stock after acquiring an additional 3,888 shares during the period. Truvestments Capital LLC’s holdings in AppLovin were worth $276,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. WCM Investment Management LLC acquired a new position in shares of AppLovin in the first quarter valued at about $497,488,000. Sapient Capital LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at about $165,057,000. Norges Bank acquired a new position in shares of AppLovin during the 4th quarter worth about $43,973,000. Jackson Square Partners LLC acquired a new position in AppLovin during the first quarter worth $54,736,000. Finally, First Trust Advisors LP grew its holdings in AppLovin by 42.6% in the 4th quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock valued at $91,605,000 after buying an additional 686,258 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Eduardo Vivas sold 118,839 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the sale, the director now directly owns 7,641,531 shares in the company, valued at $693,468,938.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Dawson Alyssa Harvey sold 4,371 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $75.65, for a total value of $330,666.15. Following the completion of the transaction, the director now directly owns 11,565 shares of the company’s stock, valued at $874,892.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eduardo Vivas sold 118,839 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the completion of the transaction, the director now owns 7,641,531 shares of the company’s stock, valued at approximately $693,468,938.25. The disclosure for this sale can be found here. Insiders sold 17,857,726 shares of company stock valued at $1,489,251,374 in the last three months. 14.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on APP shares. Morgan Stanley upped their price objective on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, May 9th. Stifel Nicolaus increased their price objective on AppLovin from $85.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Jefferies Financial Group lifted their target price on AppLovin from $93.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, BTIG Research increased their price target on AppLovin from $87.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.72.

AppLovin Stock Up 1.8 %

Shares of NASDAQ APP traded up $1.36 during midday trading on Friday, hitting $77.53. The company’s stock had a trading volume of 1,790,395 shares, compared to its average volume of 3,084,599. AppLovin Co. has a 1 year low of $28.99 and a 1 year high of $91.91. The business’s fifty day simple moving average is $81.86 and its two-hundred day simple moving average is $69.14. The firm has a market capitalization of $25.51 billion, a price-to-earnings ratio of 46.15, a price-to-earnings-growth ratio of 1.29 and a beta of 1.86. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $973.70 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, equities analysts predict that AppLovin Co. will post 2.96 EPS for the current 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.