LMG Wealth Partners LLC Purchases 850 Shares of AppLovin Co. (NASDAQ:APP)

LMG Wealth Partners LLC boosted its position in AppLovin Co. (NASDAQ:APP) by 4.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,288 shares of the company’s stock after buying an additional 850 shares during the period. LMG Wealth Partners LLC’s holdings in AppLovin were worth $1,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. FinTrust Capital Advisors LLC acquired a new position in shares of AppLovin during the 4th quarter worth $32,000. Covestor Ltd increased its holdings in AppLovin by 85.8% in the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in AppLovin in the 2nd quarter worth about $37,000. Atlas Capital Advisors LLC acquired a new position in AppLovin in the 1st quarter worth about $38,000. Finally, Summit Securities Group LLC acquired a new position in AppLovin in the 2nd quarter worth about $42,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

Shares of APP traded down $2.47 during midday trading on Tuesday, reaching $90.40. The stock had a trading volume of 790,865 shares, compared to its average volume of 4,054,512. The company’s 50-day moving average is $82.49 and its 200 day moving average is $76.18. AppLovin Co. has a 12-month low of $34.45 and a 12-month high of $93.70. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a market capitalization of $29.74 billion, a price-to-earnings ratio of 55.28, a price-to-earnings-growth ratio of 1.33 and a beta of 1.86.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the company posted $0.22 EPS. AppLovin’s revenue for the quarter was up 44.0% on a year-over-year basis. On average, equities analysts predict that AppLovin Co. will post 3.48 EPS for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 4,371 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $75.65, for a total value of $330,666.15. Following the completion of the transaction, the director now owns 11,565 shares in the company, valued at $874,892.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Eduardo Vivas sold 118,839 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the completion of the transaction, the director now directly owns 7,641,531 shares in the company, valued at $693,468,938.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 4,371 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $75.65, for a total value of $330,666.15. Following the transaction, the director now owns 11,565 shares of the company’s stock, valued at $874,892.25. The disclosure for this sale can be found here. Insiders sold 630,081 shares of company stock valued at $53,384,695 over the last quarter. 14.69% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Stifel Nicolaus upped their target price on AppLovin from $85.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Benchmark increased their price target on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Wedbush decreased their price target on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Citigroup upped their target price on AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Finally, Oppenheimer restated an “outperform” rating and set a $105.00 target price (up previously from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $82.86.

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.