Pacer Advisors Inc. Decreases Stock Position in AppLovin Co. (NASDAQ:APP)

Pacer Advisors Inc. lessened its holdings in AppLovin Co. (NASDAQ:APP) by 29.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,933 shares of the company’s stock after selling 25,828 shares during the quarter. Pacer Advisors Inc.’s holdings in AppLovin were worth $8,216,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. HM Payson & Co. grew its position in AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in shares of AppLovin by 0.3% during the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after buying an additional 104 shares during the period. Ashton Thomas Securities LLC grew its holdings in shares of AppLovin by 2.6% during the third quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after buying an additional 121 shares during the last quarter. GAMMA Investing LLC increased its position in shares of AppLovin by 8.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after acquiring an additional 126 shares during the period. Finally, American Trust raised its stake in AppLovin by 2.8% in the 1st quarter. American Trust now owns 5,550 shares of the company’s stock worth $384,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 4.7 %

APP stock opened at $333.31 on Friday. The stock has a market capitalization of $111.86 billion, a P/E ratio of 101.00, a P/E/G ratio of 3.92 and a beta of 1.86. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $342.51. The firm has a 50-day simple moving average of $181.30 and a 200-day simple moving average of $117.41. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 EPS. Equities analysts forecast that AppLovin Co. will post 4.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Bank of America increased their price objective on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Oppenheimer increased their price target on shares of AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Jefferies Financial Group lifted their price objective on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Finally, Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $222.96.

Insiders Place Their Bets

In other news, 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 transaction, the chief technology officer now directly owns 4,530,455 shares in the company, valued at $381,192,483.70. The trade was a 3.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 12.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 854,065 shares of company stock valued at $233,072,408 in the last 90 days. 14.69% of the stock is owned by insiders.

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.