Farther Finance Advisors LLC Buys 613 Shares of AppLovin Co. (NASDAQ:APP)

Farther Finance Advisors LLC raised its stake in shares of AppLovin Co. (NASDAQ:APP) by 150.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,020 shares of the company’s stock after buying an additional 613 shares during the period. Farther Finance Advisors LLC’s holdings in AppLovin were worth $133,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of APP. HM Payson & Co. grew its position in shares of AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. GAMMA Investing LLC grew its position 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 purchasing an additional 126 shares during the last quarter. American Trust grew its position in shares of AppLovin by 2.8% in the first quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after purchasing an additional 150 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of AppLovin by 1.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,627 shares of the company’s stock valued at $1,741,000 after purchasing an additional 157 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its position in shares of AppLovin by 10.3% in the second quarter. Cullen Frost Bankers Inc. now owns 2,205 shares of the company’s stock valued at $184,000 after purchasing an additional 205 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

APP has been the topic of several research analyst reports. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and raised their price target for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price target (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Oppenheimer lifted their target price on AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Bank of America lifted their target price on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Benchmark reissued a “sell” rating and set a $66.00 target price on shares of AppLovin in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $194.31.

Insider Activity

In related news, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the transaction, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the transaction, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the transaction, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 477,172 shares of company stock worth $40,723,512. Insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $286.43 on Tuesday. AppLovin Co. has a 1 year low of $35.79 and a 1 year high of $292.86. The firm has a 50 day moving average of $143.14 and a 200-day moving average of $103.05. The company has a current ratio of 2.41, a quick ratio of 2.28 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $95.74 billion, a P/E ratio of 86.80, a price-to-earnings-growth ratio of 4.18 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. AppLovin’s quarterly revenue was up 38.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that AppLovin Co. will post 3.98 EPS for the current fiscal year.

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.