SG Americas Securities LLC Has $1.99 Million Holdings in AppLovin Co. (NASDAQ:APP)

SG Americas Securities LLC raised its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 36.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,493 shares of the company's stock after acquiring an additional 2,016 shares during the quarter. SG Americas Securities LLC's holdings in AppLovin were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. FMR LLC grew its stake in AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after acquiring an additional 5,957,885 shares in the last quarter. SVB Wealth LLC purchased a new position in AppLovin during the fourth quarter valued at approximately $1,781,922,000. Geode Capital Management LLC grew its position in AppLovin by 14.5% during the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock valued at $1,462,144,000 after purchasing an additional 573,310 shares in the last quarter. Baillie Gifford & Co. increased its stake in AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after buying an additional 4,010,520 shares during the period. Finally, Invesco Ltd. lifted its position in AppLovin by 68.0% in the 4th quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock worth $977,639,000 after buying an additional 1,222,074 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

AppLovin Stock Performance

Shares of AppLovin stock traded up $6.19 during midday trading on Monday, hitting $370.68. The company had a trading volume of 3,537,214 shares, compared to its average volume of 6,114,590. The stock has a market cap of $125.43 billion, a PE ratio of 81.65, a P/E/G ratio of 3.02 and a beta of 2.53. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The business's 50 day simple moving average is $324.29 and its two-hundred day simple moving average is $334.22. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The business's revenue was up 40.3% compared to the same quarter last year. As a group, equities analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, Director Barbara Messing sold 1,500 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $382.46, for a total value of $573,690.00. Following the completion of the transaction, the director now owns 9,510 shares of the company's stock, valued at $3,637,194.60. This represents a 13.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Craig Scott Billings sold 12,000 shares of AppLovin stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $353.12, for a total value of $4,237,440.00. Following the sale, the director now directly owns 2,987 shares in the company, valued at $1,054,769.44. The trade was a 80.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,212,968 shares of company stock valued at $455,062,980 in the last quarter. Corporate insiders own 13.66% of the company's stock.

Analyst Upgrades and Downgrades

APP has been the topic of a number of research reports. Arete Research set a $200.00 price target on shares of AppLovin in a research note on Wednesday, March 5th. HSBC set a $436.00 price target on AppLovin and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Piper Sandler boosted their price target on AppLovin from $425.00 to $455.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Morgan Stanley raised their price objective on shares of AppLovin from $420.00 to $460.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $500.00 target price (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $438.10.

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.