Annex Advisory Services LLC Has $31.62 Million Position in AppLovin Co. (NASDAQ:APP)

Annex Advisory Services LLC increased its position in shares of AppLovin Co. (NASDAQ:APP) by 21.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 242,219 shares of the company’s stock after buying an additional 42,073 shares during the quarter. AppLovin accounts for about 1.0% of Annex Advisory Services LLC’s portfolio, making the stock its 18th biggest holding. Annex Advisory Services LLC owned about 0.07% of AppLovin worth $31,622,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Quest Partners LLC bought a new stake in AppLovin during the 2nd quarter worth about $33,000. Oliver Lagore Vanvalin Investment Group acquired a new position in AppLovin during the second quarter valued at approximately $34,000. Covestor Ltd grew its stake in AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of AppLovin during the 2nd quarter worth approximately $37,000. Finally, Atlas Capital Advisors LLC bought a new stake in shares of AppLovin during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total value of $5,472,193.76. Following the completion of the transaction, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at $88,121,489.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the sale, the chief financial officer now owns 254,458 shares in the company, valued at approximately $20,262,490.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the transaction, the chief marketing officer now owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is currently owned by company insiders.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $147.00 on Friday. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a market cap of $49.13 billion, a price-to-earnings ratio of 62.55, a P/E/G ratio of 2.07 and a beta of 1.92. The stock’s fifty day moving average price is $104.70 and its two-hundred day moving average price is $87.64. AppLovin Co. has a one year low of $34.45 and a one year high of $147.60.

AppLovin (NASDAQ:APP) last released its quarterly 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. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the company posted $0.22 earnings per share. AppLovin’s revenue was up 44.0% compared to the same quarter last year. On average, equities analysts forecast that AppLovin Co. will post 3.46 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and issued a $105.00 target price (up from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Bank of America lifted their price objective on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Wedbush dropped their target price on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Macquarie reiterated an “outperform” rating and set a $150.00 price target (up previously from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Finally, Citigroup boosted their price target on AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.44.

AppLovin Company 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.