UMB Bank n.a. Has $2.47 Million Stake in AppLovin Corporation $APP

Key Points

• UMB Bank n.a. increased its holdings in AppLovin Corporation by 696.4% in the second quarter, bringing their total ownership to 7,048 shares valued at approximately $2.47 million.
• Several hedge funds have also raised their positions in AppLovin during the second quarter, indicating a growing interest in the company from institutional investors.
• AppLovin's stock is currently rated as a moderate buy, with an average price target recently lifted by analysts to a range of $640.00 to $725.00.

UMB Bank n.a. grew its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 696.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,048 shares of the company's stock after purchasing an additional 6,163 shares during the period. UMB Bank n.a.'s holdings in AppLovin were worth $2,467,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. SeaCrest Wealth Management LLC increased its position in AppLovin by 27.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,499 shares of the company's stock worth $875,000 after purchasing an additional 540 shares during the last quarter. Assenagon Asset Management S.A. increased its position in AppLovin by 37.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 5,752 shares of the company's stock worth $2,014,000 after purchasing an additional 1,579 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in shares of AppLovin by 15.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company's stock valued at $15,827,000 after acquiring an additional 6,104 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of AppLovin during the 2nd quarter valued at about $147,000. Finally, Redhawk Wealth Advisors Inc. acquired a new position in shares of AppLovin during the 2nd quarter valued at about $240,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In related news, Director Eduardo Vivas sold 125,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the completion of the sale, the director directly owned 7,283,292 shares of the company's stock, valued at $3,394,014,072. This trade represents a 1.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 35,000 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the sale, the insider directly owned 269,955 shares of the company's stock, valued at $135,579,499.65. This represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,156,788 shares of company stock worth $514,863,333 over the last three months. 13.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on APP. JPMorgan Chase & Co. increased their price objective on AppLovin from $400.00 to $425.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Wedbush increased their price objective on AppLovin from $620.00 to $725.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Wall Street Zen lowered AppLovin from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Wells Fargo & Company increased their price objective on AppLovin from $480.00 to $491.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Finally, Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $501.95.

AppLovin Stock Performance

AppLovin stock traded down $6.09 on Monday, hitting $643.50. The company's stock had a trading volume of 9,256,930 shares, compared to its average volume of 7,468,140. The firm has a market cap of $217.66 billion, a P/E ratio of 91.41, a price-to-earnings-growth ratio of 3.60 and a beta of 2.44. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The company has a fifty day moving average price of $451.52 and a 200-day moving average price of $364.40. AppLovin Corporation has a one year low of $124.59 and a one year high of $657.00.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.21. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The business's revenue for the quarter was up 77.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 EPS. On average, equities analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

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.