Cullen Frost Bankers Inc. Acquires 900 Shares of AppLovin Co. (NASDAQ:APP)

Cullen Frost Bankers Inc. grew its stake in AppLovin Co. (NASDAQ:APP) by 81.8% during the 4th quarter, HoldingsChannel reports. The firm owned 2,000 shares of the company’s stock after acquiring an additional 900 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in AppLovin were worth $80,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of APP. Sapient Capital LLC acquired a new stake in AppLovin in the 4th quarter valued at $165,057,000. Vanguard Group Inc. grew its holdings in shares of AppLovin by 8.5% in the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock worth $723,245,000 after purchasing an additional 1,411,453 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of AppLovin by 4,805.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock worth $56,050,000 after purchasing an additional 1,374,066 shares in the last quarter. FMR LLC increased its position in shares of AppLovin by 224.6% during the 3rd quarter. FMR LLC now owns 755,798 shares of the company’s stock worth $30,202,000 after purchasing an additional 522,949 shares in the last quarter. Finally, Scout Investments Inc. lifted its holdings in AppLovin by 83.2% during the 3rd quarter. Scout Investments Inc. now owns 923,361 shares of the company’s stock valued at $37,692,000 after purchasing an additional 419,221 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on APP shares. UBS Group lifted their target price on shares of AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. BTIG Research upped their price objective on AppLovin from $87.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group lifted their target price on AppLovin from $93.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group upped their price target on AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wedbush boosted their price objective on AppLovin from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $71.72.

AppLovin Trading Up 2.1 %

Shares of AppLovin stock opened at $86.43 on Friday. AppLovin Co. has a 12-month low of $20.90 and a 12-month high of $88.50. The company has a quick ratio of 1.71, a current ratio of 2.11 and a debt-to-equity ratio of 4.59. The business’s 50 day moving average is $70.58 and its 200-day moving average is $52.63. The stock has a market cap of $28.47 billion, a P/E ratio of 51.45, a P/E/G ratio of 1.63 and a beta of 1.85.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $973.70 million. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.01) earnings per share. Equities research analysts predict that AppLovin Co. will post 2.6 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the completion of the transaction, the insider now directly owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other AppLovin news, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total value of $323,731.50. Following the completion of the sale, the director now owns 12,739 shares in the company, valued at approximately $743,065.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 50,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total value of $3,750,500.00. Following the transaction, the insider now owns 471,560 shares in the company, valued at approximately $35,371,715.60. The disclosure for this sale can be found here. Insiders have sold 61,215 shares of company stock worth $4,416,815 over the last 90 days. Company insiders own 14.69% of the company’s stock.

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.