Ashton Thomas Securities LLC Acquires 121 Shares of AppLovin Co. (NASDAQ:APP)

Ashton Thomas Securities LLC boosted its holdings in AppLovin Co. (NASDAQ:APP) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,797 shares of the company’s stock after purchasing an additional 121 shares during the period. Ashton Thomas Securities LLC’s holdings in AppLovin were worth $626,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its stake in shares of AppLovin by 167.0% in the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after buying an additional 10,099 shares during the period. Empowered Funds LLC bought a new position in shares of AppLovin during the first quarter valued at about $1,235,000. SG Americas Securities LLC boosted its holdings in shares of AppLovin by 33.5% during the first quarter. SG Americas Securities LLC now owns 4,100 shares of the company’s stock worth $284,000 after purchasing an additional 1,028 shares during the period. Forsta AP Fonden purchased a new position in AppLovin during the 1st quarter valued at about $3,364,000. Finally, Swiss National Bank lifted its holdings in AppLovin by 89.3% in the 1st quarter. Swiss National Bank now owns 536,790 shares of the company’s stock worth $37,157,000 after buying an additional 253,200 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on APP. Bank of America upped their target price on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and boosted their price target for the company from $103.00 to $150.00 in a research report on Monday, October 14th. Wedbush reaffirmed an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Citigroup raised their target price on AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $280.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $194.31.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 229,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the transaction, the director now owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Eduardo Vivas sold 229,200 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the transaction, the director now directly owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 352,616 shares of the company’s stock, valued at $31,728,387.68. This 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. 14.69% of the stock is owned by insiders.

AppLovin Price Performance

APP opened at $286.43 on Tuesday. The company’s 50-day simple moving average is $143.14 and its two-hundred day simple moving average is $103.05. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.28 and a current ratio of 2.41. The stock has a market capitalization of $95.74 billion, a P/E ratio of 86.80, a P/E/G ratio of 4.18 and a beta of 1.86. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $292.86.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. As a group, analysts predict that AppLovin Co. will post 3.98 EPS 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.