1,746 Shares in AppLovin Co. (NASDAQ:APP) Bought by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co acquired a new position in AppLovin Co. (NASDAQ:APP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,746 shares of the company’s stock, valued at approximately $228,000.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC increased its position in AppLovin by 101.7% in the 2nd quarter. SG Americas Securities LLC now owns 8,268 shares of the company’s stock worth $688,000 after buying an additional 4,168 shares during the period. Diversified Trust Co raised its stake in AppLovin by 20.8% during the 2nd quarter. Diversified Trust Co now owns 4,059 shares of the company’s stock valued at $338,000 after purchasing an additional 700 shares during the last quarter. Great Valley Advisor Group Inc. bought a new stake in AppLovin in the 2nd quarter valued at $231,000. Envestnet Portfolio Solutions Inc. acquired a new stake in AppLovin in the 2nd quarter worth $3,291,000. Finally, Swedbank AB increased its holdings in shares of AppLovin by 515.8% during the 2nd quarter. Swedbank AB now owns 77,355 shares of the company’s stock worth $6,437,000 after purchasing an additional 64,793 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted 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. Wedbush reissued an “outperform” rating and set a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Bank of America upped their target price on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Piper Sandler initiated coverage on shares of AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target on the stock. Finally, BTIG Research increased their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $292.79.

AppLovin Stock Down 0.5 %

Shares of NASDAQ:APP opened at $324.47 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market cap of $108.89 billion, a P/E ratio of 98.32, a P/E/G ratio of 4.17 and a beta of 2.28. AppLovin Co. has a 12 month low of $37.40 and a 12 month high of $417.64. The company’s 50-day moving average price is $246.00 and its two-hundred day moving average price is $144.37.

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

Insider Activity

In other news, Director Herald Y. Chen sold 99,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the transaction, the director now owns 621,209 shares of the company’s stock, valued at approximately $204,688,365.50. This trade represents a 13.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 872,896 shares of company stock valued at $279,773,021. 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.