FCG Investment Co Buys 1,713 Shares of AppLovin Corporation $APP

FCG Investment Co boosted its stake in AppLovin Corporation (NASDAQ:APP) by 78.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,886 shares of the company’s stock after purchasing an additional 1,713 shares during the period. AppLovin comprises about 1.3% of FCG Investment Co’s holdings, making the stock its 16th largest holding. FCG Investment Co’s holdings in AppLovin were worth $2,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hilltop National Bank increased its holdings in shares of AppLovin by 56.8% during the third quarter. Hilltop National Bank now owns 116 shares of the company’s stock worth $83,000 after buying an additional 42 shares in the last quarter. Wedmont Private Capital grew its position in AppLovin by 3.0% during the 3rd quarter. Wedmont Private Capital now owns 7,128 shares of the company’s stock worth $5,122,000 after acquiring an additional 209 shares during the last quarter. Czech National Bank acquired a new position in AppLovin in the 3rd quarter worth about $49,408,000. Chesley Taft & Associates LLC acquired a new position in AppLovin in the 3rd quarter worth about $229,000. Finally, Balefire LLC bought a new position in AppLovin in the third quarter valued at about $224,000. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on APP. Zacks Research cut AppLovin from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Wedbush boosted their target price on shares of AppLovin from $745.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Citigroup dropped their price target on shares of AppLovin from $850.00 to $820.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Bank of America lifted their price target on shares of AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, Oppenheimer set a $740.00 price objective on AppLovin in a report on Tuesday, October 7th. Nineteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $695.90.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 27,143 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the transaction, the chief technology officer directly owned 3,323,681 shares of the company’s stock, valued at approximately $1,812,669,143.78. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 30,888 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $520.29, for a total value of $16,070,717.52. Following the transaction, the chief executive officer owned 2,553,161 shares in the company, valued at $1,328,384,136.69. The trade was a 1.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 332,727 shares of company stock valued at $195,062,520 in the last ninety days. 13.66% of the stock is owned by company insiders.

AppLovin Trading Up 5.7%

NASDAQ:APP opened at $694.37 on Friday. AppLovin Corporation has a 52 week low of $200.50 and a 52 week high of $745.61. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25. The firm’s fifty day moving average is $614.07 and its 200-day moving average is $509.01. The firm has a market cap of $234.66 billion, a P/E ratio of 84.27, a P/E/G ratio of 3.53 and a beta of 2.51.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. AppLovin’s revenue for the quarter was up 68.2% on a year-over-year basis. Equities analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

About AppLovin

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.