Logan Capital Management Inc. Sells 65 Shares of AppLovin Co. (NASDAQ:APP)

Logan Capital Management Inc. trimmed its holdings in AppLovin Co. (NASDAQ:APP) by 0.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,967 shares of the company’s stock after selling 65 shares during the period. Logan Capital Management Inc.’s holdings in AppLovin were worth $14,748,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of APP. Capital Performance Advisors LLP acquired a new stake in AppLovin in the 3rd quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the third quarter worth $27,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the 3rd quarter worth $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin in the 3rd quarter valued at $29,000. Finally, HM Payson & Co. raised its holdings in AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and raised their target price for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Bank of America boosted their target price on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and upped their target price for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Citigroup upped their price objective on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

AppLovin Stock Up 0.4 %

Shares of NASDAQ:APP traded up $1.37 during midday trading on Friday, reaching $327.58. 610,998 shares of the company were exchanged, compared to its average volume of 4,568,233. The firm has a market cap of $109.93 billion, a PE ratio of 98.85, a P/E/G ratio of 4.17 and a beta of 2.28. AppLovin Co. has a fifty-two week low of $37.40 and a fifty-two week high of $417.64. The stock has a fifty day simple moving average of $242.30 and a two-hundred day simple moving average of $142.69. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. As a group, sell-side analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current year.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the transaction, the insider now owns 405,676 shares in the company, valued at approximately $143,670,155.40. This trade represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the sale, the director now owns 621,209 shares in the company, valued at $204,688,365.50. This represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 872,896 shares of company stock valued at $279,773,021. 14.69% of the stock is owned by insiders.

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.