AppLovin Co. (NASDAQ:APP) Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC increased its holdings in AppLovin Co. (NASDAQ:APP) by 3,267.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 138,515 shares of the company’s stock after buying an additional 134,402 shares during the quarter. Lazard Asset Management LLC’s holdings in AppLovin were worth $9,588,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of APP. Raymond James Financial Services Advisors Inc. acquired a new position in AppLovin in the 4th quarter worth approximately $237,000. Pacer Advisors Inc. grew its stake in shares of AppLovin by 36.1% during the 4th quarter. Pacer Advisors Inc. now owns 37,087 shares of the company’s stock worth $1,478,000 after purchasing an additional 9,839 shares during the period. Blue Trust Inc. grew its stake in shares of AppLovin by 2,032.0% during the 4th quarter. Blue Trust Inc. now owns 2,132 shares of the company’s stock worth $85,000 after purchasing an additional 2,032 shares during the period. Arizona State Retirement System grew its stake in shares of AppLovin by 2.1% during the 4th quarter. Arizona State Retirement System now owns 40,226 shares of the company’s stock worth $1,603,000 after purchasing an additional 826 shares during the period. Finally, Alpine Woods Capital Investors LLC acquired a new stake in shares of AppLovin during the 4th quarter worth approximately $897,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Trading Up 1.8 %

Shares of APP traded up $1.36 during midday trading on Friday, reaching $77.53. The company 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 stock has a market cap of $25.51 billion, a PE ratio of 46.15, a price-to-earnings-growth ratio of 1.31 and a beta of 1.86. The firm has a 50 day simple moving average of $81.86 and a 200-day simple moving average of $69.14. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 4.59.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $973.70 million. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The company’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period last year, the company earned ($0.01) EPS. Research analysts forecast that AppLovin Co. will post 2.96 EPS for the current fiscal year.

Analyst Ratings Changes

APP has been the topic of a number of analyst reports. Daiwa Capital Markets began coverage on shares of AppLovin in a research note on Monday, April 15th. They set a “neutral” rating and a $80.00 price objective on the stock. Stifel Nicolaus increased their target price on AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Morgan Stanley increased their target price on AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. Citigroup increased their target price on AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $71.72.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $81.37, for a total transaction of $235,159.30. Following the completion of the sale, the insider now directly owns 448,490 shares of the company’s stock, valued at approximately $36,493,631.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AppLovin news, Director Mary Margaret Hasti Georgiadis sold 6,990 shares of AppLovin stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $83.89, for a total value of $586,391.10. Following the completion of the transaction, the director now directly owns 34,178 shares of the company’s stock, valued at approximately $2,867,192.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 2,890 shares of AppLovin stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $81.37, for a total value of $235,159.30. Following the completion of the transaction, the insider now directly owns 448,490 shares of the company’s stock, valued at $36,493,631.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,857,726 shares of company stock valued at $1,489,251,374. 14.69% of the stock is currently owned by 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.