AppLovin Corporation $APP Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 127.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 120,894 shares of the company’s stock after purchasing an additional 67,707 shares during the period. AppLovin makes up about 0.7% of NEOS Investment Management LLC’s portfolio, making the stock its 21st biggest position. NEOS Investment Management LLC’s holdings in AppLovin were worth $86,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC grew its position in AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after buying an additional 17 shares during the period. Versant Capital Management Inc raised its position in shares of AppLovin by 2.8% in 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 boosted its stake in shares of AppLovin by 2.5% during the 3rd quarter. Optas LLC now owns 877 shares of the company’s stock worth $630,000 after acquiring an additional 21 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its position in shares of AppLovin by 19.6% during the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 134 shares of the company’s stock valued at $96,000 after acquiring an additional 22 shares during the period. Finally, Avestar Capital LLC increased its stake in shares of AppLovin by 2.1% in the 2nd quarter. Avestar Capital LLC now owns 1,117 shares of the company’s stock valued at $391,000 after purchasing an additional 23 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 7,609 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the transaction, the insider directly owned 277,110 shares in the company, valued at $182,097,294.30. This trade represents a 2.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dawson Alyssa Harvey sold 150 shares of AppLovin stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $693.32, for a total value of $103,998.00. Following the completion of the transaction, the director directly owned 2,829 shares of the company’s stock, valued at approximately $1,961,402.28. This represents a 5.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 187,786 shares of company stock valued at $100,914,925. Corporate insiders own 13.66% of the company’s stock.

AppLovin Trading Up 6.7%

APP opened at $391.55 on Tuesday. The business’s 50 day moving average price is $590.55 and its 200 day moving average price is $573.26. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.25 and a current ratio of 3.32. AppLovin Corporation has a one year low of $200.50 and a one year high of $745.61. The stock has a market capitalization of $132.32 billion, a PE ratio of 40.16, a P/E/G ratio of 1.25 and a beta of 2.49.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.35. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The firm’s revenue for the quarter was up 66.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 EPS. As a group, equities research analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on APP shares. Weiss Ratings downgraded AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 15th. JPMorgan Chase & Co. increased their target price on AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Zacks Research lowered shares of AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Morgan Stanley set a $720.00 target price on shares of AppLovin in a research report on Thursday. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $700.00 target price on shares of AppLovin in a research note on Thursday, February 12th. Twenty equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $651.77.

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.