Truvestments Capital LLC Acquires 567 Shares of AppLovin Co. (NASDAQ:APP)

Truvestments Capital LLC boosted its stake in AppLovin Co. (NASDAQ:APP) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,198 shares of the company’s stock after acquiring an additional 567 shares during the period. Truvestments Capital LLC’s holdings in AppLovin were worth $679,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of AppLovin during the 3rd quarter worth approximately $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the third quarter valued at approximately $27,000. Meeder Asset Management Inc. purchased a new stake in AppLovin in the third quarter worth $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin in the third quarter worth $29,000. Finally, Quest Partners LLC purchased a new position in AppLovin during the second quarter valued at $33,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on APP shares. Benchmark reaffirmed a “sell” rating and issued a $66.00 target price on shares of AppLovin in a research report on Thursday, November 7th. Oppenheimer upped their price objective on shares of AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their price target on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus raised their price objective on AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $222.96.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $339.04 on Monday. The firm’s 50-day moving average price is $181.30 and its 200-day moving average price is $117.71. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $342.51. The company has a market cap of $113.78 billion, a PE ratio of 101.00, a PEG ratio of 4.11 and a beta of 1.86. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion for 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% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. As a group, analysts anticipate that AppLovin Co. will post 4.05 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 154,500 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the transaction, the chief technology officer now directly owns 4,530,455 shares in the company, valued at approximately $381,192,483.70. This trade represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 12.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 854,065 shares of company stock valued at $233,072,408 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.