AppLovin Co. (NASDAQ:APP) Shares Bought by Captrust Financial Advisors

Captrust Financial Advisors lifted its holdings in AppLovin Co. (NASDAQ:APP) by 5.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 183,211 shares of the company’s stock after purchasing an additional 9,791 shares during the quarter. Captrust Financial Advisors’ holdings in AppLovin were worth $23,918,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of APP. Hantz Financial Services Inc. grew its position in AppLovin by 83.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 5,330 shares of the company’s stock valued at $696,000 after buying an additional 2,427 shares in the last quarter. Vinva Investment Management Ltd lifted its stake in shares of AppLovin by 18.8% in the 3rd quarter. Vinva Investment Management Ltd now owns 85,251 shares of the company’s stock worth $10,891,000 after acquiring an additional 13,465 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of AppLovin by 31.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 982,038 shares of the company’s stock worth $128,205,000 after acquiring an additional 237,146 shares during the period. Fiduciary Trust Co bought a new position in shares of AppLovin in the third quarter valued at approximately $339,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in AppLovin by 20.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,657 shares of the company’s stock worth $5,830,000 after purchasing an additional 7,638 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Piper Sandler initiated coverage on shares of AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price objective for the company. Macquarie lifted their price objective on shares of AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and increased their target price for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $265.57.

AppLovin Trading Up 2.5 %

Shares of NASDAQ APP opened at $336.75 on Friday. The firm has a market capitalization of $113.01 billion, a PE ratio of 102.05, a PEG ratio of 4.05 and a beta of 1.86. AppLovin Co. has a one year low of $35.79 and a one year high of $344.77. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The business has a 50-day moving average price of $197.69 and a two-hundred day moving average price of $123.96.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. As a group, analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Eduardo Vivas sold 30,330 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $330.67, for a total value of $10,029,221.10. Following the completion of the sale, the director now owns 90,576 shares of the company’s stock, valued at approximately $29,950,765.92. The trade was a 25.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Vasily Shikin sold 154,500 shares of AppLovin stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the sale, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 884,395 shares of company stock worth $243,101,629 in the last ninety days. Corporate insiders own 14.69% of the company’s stock.

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.