AppLovin Co. (NASDAQ:APP) Shares Bought by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd grew its position in AppLovin Co. (NASDAQ:APP) by 49.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 56,156 shares of the company’s stock after purchasing an additional 18,686 shares during the period. Mediolanum International Funds Ltd’s holdings in AppLovin were worth $7,162,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of AppLovin by 8.2% during the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock worth $217,000 after buying an additional 126 shares during the period. American Trust boosted its holdings in AppLovin by 2.8% during the 1st quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after acquiring an additional 150 shares during the period. Highland Capital Management LLC raised its holdings in AppLovin by 0.5% in the first quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock valued at $1,946,000 after acquiring an additional 153 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in AppLovin by 10.3% in the second quarter. Cullen Frost Bankers Inc. now owns 2,205 shares of the company’s stock worth $184,000 after acquiring an additional 205 shares during the last quarter. Finally, DT Investment Partners LLC acquired a new position in AppLovin during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $161.63 on Friday. The business has a fifty day moving average of $119.72 and a 200-day moving average of $93.11. AppLovin Co. has a fifty-two week low of $34.45 and a fifty-two week high of $165.38. The stock has a market cap of $53.18 billion, a price-to-earnings ratio of 96.21, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the firm posted $0.22 earnings per share. The business’s quarterly revenue was up 44.0% compared to the same quarter last year. As a group, analysts predict that AppLovin Co. will post 3.46 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction 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 transaction, the director now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’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 sale, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eduardo Vivas sold 229,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the transaction, the director now owns 7,412,475 shares in the company, valued at $640,067,216.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock valued at $51,022,478 in the last ninety days. Company insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Benchmark raised their price target on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Macquarie reiterated an “outperform” rating and set a $150.00 price target (up previously from $115.00) on shares of AppLovin in a research note on Wednesday, September 25th. Jefferies Financial Group lifted their target price on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Citigroup lifted their target price on shares of AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Stifel Nicolaus upped their price objective on AppLovin from $100.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $129.58.

AppLovin 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.