Segment Wealth Management LLC Buys New Shares in AppLovin Co. (NASDAQ:APP)

Segment Wealth Management LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,491 shares of the company’s stock, valued at approximately $2,153,000.

A number of other institutional investors and hedge funds also recently modified their holdings of APP. Fred Alger Management LLC acquired a new position in shares of AppLovin in the 2nd quarter valued at $290,655,000. Whale Rock Capital Management LLC purchased a new position in shares of AppLovin in the 1st quarter worth about $195,129,000. Jericho Capital Asset Management L.P. lifted its stake in shares of AppLovin by 185.0% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after purchasing an additional 2,525,240 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of AppLovin by 977.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after purchasing an additional 1,357,400 shares during the period. Finally, Jackson Square Partners LLC acquired a new stake in AppLovin during the 1st quarter worth approximately $54,736,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the sale, the director now directly owns 7,412,475 shares in the company, valued at $640,067,216.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock valued at $51,022,478 in the last quarter. Insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on APP shares. Jefferies Financial Group boosted their price objective on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and raised their target price for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Macquarie restated an “outperform” rating and issued a $150.00 price target (up previously from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Bank of America boosted their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Wedbush lowered their price target on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.45.

AppLovin Trading Up 0.1 %

NASDAQ:APP opened at $158.95 on Wednesday. AppLovin Co. has a 52 week low of $34.45 and a 52 week high of $163.08. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a market cap of $52.30 billion, a PE ratio of 94.61, a P/E/G ratio of 2.07 and a beta of 1.92. The business’s 50 day moving average is $113.67 and its two-hundred day moving average is $91.00.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the business posted $0.22 earnings per share. The firm’s revenue for the quarter was up 44.0% on a year-over-year basis. On average, analysts predict that AppLovin Co. will post 3.46 EPS for the current year.

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.