Raymond James Financial Services Advisors Inc. Buys Shares of 5,955 AppLovin Co. (NASDAQ:APP)

Raymond James Financial Services Advisors Inc. purchased a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 5,955 shares of the company’s stock, valued at approximately $237,000.

A number of other institutional investors have also modified their holdings of APP. Quantbot Technologies LP boosted its holdings in AppLovin by 143.1% during the 3rd quarter. Quantbot Technologies LP now owns 116,917 shares of the company’s stock valued at $4,672,000 after acquiring an additional 68,822 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of AppLovin by 4,805.9% in the third quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock valued at $56,050,000 after purchasing an additional 1,374,066 shares during the period. Black Swift Group LLC acquired a new position in shares of AppLovin in the third quarter valued at approximately $999,000. Vanguard Group Inc. increased its stake in AppLovin by 8.5% during the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock worth $723,245,000 after buying an additional 1,411,453 shares during the period. Finally, Scout Investments Inc. lifted its holdings in AppLovin by 83.2% during the 3rd quarter. Scout Investments Inc. now owns 923,361 shares of the company’s stock worth $37,692,000 after buying an additional 419,221 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APP has been the subject of several research reports. Wedbush boosted their price target on shares of AppLovin from $67.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. BTIG Research upped their price target on AppLovin from $65.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. The Goldman Sachs Group increased their price target on AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Daiwa Capital Markets started coverage on AppLovin in a research report on Monday, April 15th. They set a “neutral” rating and a $80.00 price objective for the company. Finally, Morgan Stanley raised their target price on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.31.

AppLovin Price Performance

Shares of APP opened at $71.19 on Wednesday. The firm has a fifty day moving average price of $66.18 and a 200 day moving average price of $49.46. The stock has a market cap of $24.35 billion, a PE ratio of 71.19, a price-to-earnings-growth ratio of 1.35 and a beta of 1.90. AppLovin Co. has a 1-year low of $15.41 and a 1-year high of $79.55. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.71 and a quick ratio of 1.71.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.35 by $0.14. The company had revenue of $953.26 million for the quarter, compared to analyst estimates of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The firm’s revenue was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) earnings per share. As a group, sell-side analysts anticipate that AppLovin Co. will post 2.47 EPS for the current year.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the transaction, the insider now directly owns 546,560 shares of the company’s stock, valued at approximately $31,569,305.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Craig Scott Billings sold 5,550 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total value of $323,731.50. Following the transaction, the director now owns 12,739 shares of the company’s stock, valued at $743,065.87. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total value of $166,926.40. Following the sale, the insider now directly owns 546,560 shares of the company’s stock, valued at $31,569,305.60. The disclosure for this sale can be found here. Insiders sold a total of 61,215 shares of company stock worth $4,416,815 in the last 90 days. 12.43% of the stock is owned by insiders.

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.