Atlas Capital Advisors LLC Takes Position in AppLovin Co. (NASDAQ:APP)

Atlas Capital Advisors LLC purchased a new position in AppLovin Co. (NASDAQ:APPFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 555 shares of the company’s stock, valued at approximately $38,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FinTrust Capital Advisors LLC purchased a new position in shares of AppLovin in the fourth quarter worth approximately $32,000. Quarry LP purchased a new position in AppLovin during the 4th quarter worth approximately $44,000. GAMMA Investing LLC acquired a new stake in AppLovin during the 4th quarter valued at $47,000. Lindbrook Capital LLC lifted its holdings in shares of AppLovin by 26.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,337 shares of the company’s stock valued at $53,000 after purchasing an additional 281 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of AppLovin in the third quarter worth $59,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on APP. Jefferies Financial Group increased their price objective on AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Stifel Nicolaus boosted their price objective on shares of AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. BTIG Research lifted their price objective on AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Oppenheimer reaffirmed an “outperform” rating and issued a $97.00 target price on shares of AppLovin in a research report on Thursday, June 13th. Finally, The Goldman Sachs Group boosted their price target on AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.72.

Read Our Latest Report on APP

AppLovin Stock Performance

APP opened at $83.12 on Friday. The stock has a market cap of $27.35 billion, a PE ratio of 49.48, a P/E/G ratio of 1.37 and a beta of 1.88. AppLovin Co. has a 1 year low of $25.11 and a 1 year high of $88.50. The stock’s 50 day simple moving average is $78.81 and its 200-day simple moving average is $62.59. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59.

AppLovin (NASDAQ:APPGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $973.70 million. During the same quarter in the prior year, the company posted ($0.01) EPS. The business’s revenue was up 47.9% on a year-over-year basis. Sell-side analysts forecast that AppLovin Co. will post 2.96 EPS for the current year.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 50,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the transaction, the insider now directly owns 471,560 shares of the company’s stock, valued at approximately $35,371,715.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Victoria Valenzuela sold 50,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value of $3,750,500.00. Following the sale, the insider now owns 471,560 shares of the company’s stock, valued at approximately $35,371,715.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Craig Scott Billings sold 5,620 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $84.97, for a total transaction of $477,531.40. Following the sale, the director now owns 1,780 shares of the company’s stock, valued at approximately $151,246.60. The disclosure for this sale can be found here. Insiders sold a total of 17,741,886 shares of company stock worth $1,478,219,330 over the last quarter. Company insiders own 14.69% of the company’s stock.

AppLovin Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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