WESPAC Advisors LLC Buys New Position in AppLovin Co. (NASDAQ:APP)

WESPAC Advisors LLC purchased a new position in AppLovin Co. (NASDAQ:APP) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 7,931 shares of the company’s stock, valued at approximately $1,035,000.

Other large investors also recently modified their holdings of the company. Great Valley Advisor Group Inc. increased its position in AppLovin by 2.2% during the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after acquiring an additional 60 shares during the period. HM Payson & Co. increased its holdings in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Aptus Capital Advisors LLC raised its position in shares of AppLovin by 0.3% during the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after buying an additional 104 shares during the last quarter. Ashton Thomas Securities LLC lifted its stake in shares of AppLovin by 2.6% in the third quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after buying an additional 121 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of AppLovin by 8.2% in the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after buying an additional 126 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Price Performance

Shares of APP stock opened at $333.31 on Friday. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $342.51. The stock has a market capitalization of $111.86 billion, a PE ratio of 101.00, a PEG ratio of 3.92 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock’s fifty day moving average is $181.30 and its 200-day moving average is $117.41.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue was up 38.6% on a year-over-year basis. Equities research analysts expect that AppLovin Co. will post 4.05 EPS for the current fiscal year.

Insider Activity at AppLovin

In related news, Director Craig Scott Billings sold 18,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the transaction, the director now owns 2,987 shares in the company, valued at $952,673.78. This trade represents a 85.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the sale, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 854,065 shares of company stock valued at $233,072,408 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price target (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Citigroup upped their target price on AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. raised their target price on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Macquarie boosted their price target on shares of AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Piper Sandler assumed coverage on shares of AppLovin in a report on Wednesday. They set an “overweight” rating and a $400.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $222.96.

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.