AppLovin Co. (NASDAQ:APP) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AppLovin Co. (NASDAQ:APP) by 31.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 982,038 shares of the company’s stock after buying an additional 237,146 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in AppLovin were worth $128,205,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin in the third quarter valued at about $25,000. DT Investment Partners LLC acquired a new stake in AppLovin in the third quarter valued at approximately $27,000. Meeder Asset Management Inc. purchased a new stake in shares of AppLovin during the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new position in shares of AppLovin during the third quarter worth $29,000. Finally, Quest Partners LLC purchased a new position in shares of AppLovin in the second quarter valued at $33,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on APP shares. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Stifel Nicolaus lifted their target price on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Benchmark reiterated a “sell” rating and issued a $66.00 price target on shares of AppLovin in a research note on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Finally, BTIG Research increased their target price on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $265.57.

Insider Transactions at AppLovin

In other news, Director Eduardo Vivas sold 30,330 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $330.67, for a total transaction of $10,029,221.10. Following the completion of the transaction, the director now directly owns 90,576 shares in the company, valued at approximately $29,950,765.92. The trade was a 25.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 154,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the sale, the chief technology officer now owns 4,530,455 shares in the company, valued at approximately $381,192,483.70. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 884,395 shares of company stock worth $243,101,629. Insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of APP stock opened at $336.75 on Monday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The business has a 50 day moving average of $201.91 and a two-hundred day moving average of $126.00. The company has a market cap of $113.01 billion, a P/E ratio of 102.05, a PEG ratio of 4.15 and a beta of 1.86. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $344.77.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business earned $0.30 EPS. The firm’s revenue was up 38.6% on a year-over-year basis. As a group, analysts anticipate that AppLovin Co. will post 4.06 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.