54,276 Shares in AppLovin Co. (NASDAQ:APP) Bought by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) during the third quarter, Holdings Channel reports. The fund purchased 54,276 shares of the company’s stock, valued at approximately $7,086,000. AppLovin accounts for approximately 1.2% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 28th largest holding.

Several other hedge funds have also added to or reduced their stakes in APP. DT Investment Partners LLC acquired a new position in shares of AppLovin during the third quarter worth approximately $27,000. Raleigh Capital Management Inc. bought a new stake in shares of AppLovin during the 3rd quarter worth $29,000. ORG Wealth Partners LLC bought a new stake in AppLovin in the third quarter worth about $42,000. Quest Partners LLC bought a new stake in shares of AppLovin in the second quarter valued at $33,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in AppLovin in the 2nd quarter valued at about $34,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 1.5 %

Shares of NASDAQ APP opened at $164.02 on Monday. The firm has a 50-day moving average price of $119.72 and a 200 day moving average price of $93.35. The stock has a market capitalization of $53.96 billion, a price-to-earnings ratio of 97.26, 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 Co. has a 52 week low of $35.79 and a 52 week high of $165.38.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.12. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. AppLovin’s revenue was up 44.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 EPS. Equities research analysts anticipate that AppLovin Co. will post 3.46 EPS for the current fiscal year.

Insider Transactions at AppLovin

In other news, Director Eduardo Vivas sold 229,200 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was 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 directly owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction on Friday, August 16th. The stock was sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the sale, the director now owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s 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 sale, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. 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 over the last 90 days. Corporate insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on APP shares. Wedbush reduced their price objective on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Loop Capital started coverage on shares of AppLovin in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 price objective on the stock. Jefferies Financial Group upped their target price on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. upped their target price on AppLovin from $57.00 to $160.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.58.

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.