Great Lakes Advisors LLC Buys 7,951 Shares of AppLovin Corporation $APP

Great Lakes Advisors LLC increased its stake in shares of AppLovin Corporation (NASDAQ:APP) by 228.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,434 shares of the company’s stock after buying an additional 7,951 shares during the period. Great Lakes Advisors LLC’s holdings in AppLovin were worth $8,216,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of APP. Versant Capital Management Inc boosted its holdings in shares of AppLovin by 2.8% during the third quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock worth $504,000 after acquiring an additional 19 shares during the period. Optas LLC increased its stake in shares of AppLovin by 2.5% during the third quarter. Optas LLC now owns 877 shares of the company’s stock worth $630,000 after purchasing an additional 21 shares during the period. Bartlett & CO. Wealth Management LLC lifted its holdings in AppLovin by 19.6% during the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 134 shares of the company’s stock worth $96,000 after purchasing an additional 22 shares during the last quarter. Avestar Capital LLC lifted its holdings in AppLovin by 2.1% during the 2nd quarter. Avestar Capital LLC now owns 1,117 shares of the company’s stock worth $391,000 after purchasing an additional 23 shares during the last quarter. Finally, Proffitt & Goodson Inc. boosted its stake in AppLovin by 65.7% in the 3rd quarter. Proffitt & Goodson Inc. now owns 58 shares of the company’s stock valued at $42,000 after purchasing an additional 23 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 27,143 shares of AppLovin stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $545.38, for a total value of $14,803,249.34. Following the transaction, the chief technology officer directly owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 30,888 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $520.29, for a total value of $16,070,717.52. Following the sale, the chief executive officer owned 2,553,161 shares of the company’s stock, valued at $1,328,384,136.69. The trade was a 1.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 340,336 shares of company stock valued at $200,062,623 over the last three months. 13.66% of the stock is owned by insiders.

AppLovin Trading Up 5.0%

APP opened at $569.24 on Friday. The stock has a market capitalization of $192.37 billion, a price-to-earnings ratio of 69.08, a P/E/G ratio of 1.79 and a beta of 2.50. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The company has a 50-day simple moving average of $636.28 and a 200 day simple moving average of $564.98.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.34 by $0.11. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The business’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same period last year, the firm earned $1.29 EPS. Analysts predict that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on APP shares. Citigroup lowered their price objective on AppLovin from $850.00 to $820.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Scotiabank upped their price target on shares of AppLovin from $575.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Wells Fargo & Company raised their price target on shares of AppLovin from $721.00 to $735.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. UBS Group set a $800.00 price objective on shares of AppLovin in a research note on Tuesday, January 13th. Finally, Deutsche Bank Aktiengesellschaft set a $705.00 target price on shares of AppLovin and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $706.45.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.