AppLovin Co. (NASDAQ:APP) Shares Acquired by Redwood Investment Management LLC

Redwood Investment Management LLC boosted its position in AppLovin Co. (NASDAQ:APP) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,378 shares of the company’s stock after acquiring an additional 678 shares during the quarter. Redwood Investment Management LLC’s holdings in AppLovin were worth $2,220,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new stake in AppLovin during the 1st quarter worth about $236,000. Cetera Advisors LLC purchased a new stake in AppLovin during the first quarter worth approximately $675,000. GAMMA Investing LLC boosted its holdings in AppLovin by 19.8% in the second quarter. GAMMA Investing LLC now owns 1,539 shares of the company’s stock valued at $128,000 after purchasing an additional 254 shares in the last quarter. Park Avenue Securities LLC purchased a new position in AppLovin in the second quarter valued at approximately $1,195,000. Finally, Simplicity Wealth LLC raised its holdings in AppLovin by 36.5% during the second quarter. Simplicity Wealth LLC now owns 5,096 shares of the company’s stock worth $424,000 after purchasing an additional 1,363 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity

In other AppLovin news, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total transaction of $5,740,920.00. Following the transaction, the director now owns 2,987 shares of the company’s stock, valued at $952,673.78. This trade represents a 85.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 914,895 shares of company stock valued at $253,462,174 in the last ninety days. Company insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on APP. Jefferies Financial Group upped their target price on AppLovin from $270.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Benchmark restated a “sell” rating and set a $66.00 target price on shares of AppLovin in a research report on Thursday, November 7th. Stifel Nicolaus lifted their target price on shares of AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Citigroup increased their price target on shares of AppLovin from $185.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Finally, UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $265.57.

AppLovin Stock Performance

NASDAQ:APP opened at $373.70 on Thursday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market cap of $125.41 billion, a PE ratio of 113.24, a P/E/G ratio of 4.20 and a beta of 2.28. The firm has a 50 day simple moving average of $210.94 and a 200-day simple moving average of $130.10. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $384.50.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, equities analysts expect that AppLovin Co. will post 4.06 EPS 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.