Silvant Capital Management LLC Buys Shares of 38,579 AppLovin Co. (NASDAQ:APP)

Silvant Capital Management LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,579 shares of the company’s stock, valued at approximately $5,036,000.

A number of other hedge funds have also modified their holdings of APP. Diversified Trust Co purchased a new position in AppLovin during the first quarter worth $233,000. Allspring Global Investments Holdings LLC raised its stake in AppLovin by 177.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 340,823 shares of the company’s stock valued at $23,592,000 after purchasing an additional 217,887 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in AppLovin in the 1st quarter valued at about $27,080,000. Principal Financial Group Inc. lifted its holdings in AppLovin by 15.8% in the 1st quarter. Principal Financial Group Inc. now owns 18,007 shares of the company’s stock valued at $1,246,000 after purchasing an additional 2,459 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in shares of AppLovin during the 1st quarter worth about $329,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Down 3.5 %

Shares of NASDAQ APP opened at $163.53 on Friday. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. AppLovin Co. has a 1 year low of $35.79 and a 1 year high of $174.46. The stock’s 50-day simple moving average is $127.73 and its 200-day simple moving average is $96.34. The firm has a market cap of $54.66 billion, a price-to-earnings ratio of 69.59, a PEG ratio of 2.47 and a beta of 1.92.

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. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The business’s revenue was up 44.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 EPS. As a group, equities analysts anticipate that AppLovin Co. will post 3.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Oppenheimer increased their price target on AppLovin from $105.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. BTIG Research lifted their target price on AppLovin from $150.00 to $202.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company assumed coverage on AppLovin in a research report on Monday, October 28th. They set an “overweight” rating and a $200.00 price target for the company. Loop Capital assumed coverage on AppLovin in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 price objective on the stock. Finally, Jefferies Financial Group boosted their target price on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $136.78.

Insiders Place Their Bets

In related news, CFO Matthew Stumpf sold 60,615 shares of AppLovin stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the transaction, the chief financial officer now directly owns 254,458 shares in the company, valued at approximately $20,262,490.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CMO Katie Kihorany Jansen sold 72,306 shares of AppLovin stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $83.71, for a total value of $6,052,735.26. Following the sale, the chief marketing officer now directly owns 1,092,090 shares in the company, valued at $91,418,853.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the completion of the transaction, the chief financial officer now owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock valued at $51,022,478 in the last ninety days. Corporate insiders own 14.69% of the company’s stock.

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.