Venture Visionary Partners LLC Raises Holdings in AppLovin Co. (NASDAQ:APP)

Venture Visionary Partners LLC boosted its stake in shares of AppLovin Co. (NASDAQ:APP) by 257.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,895 shares of the company’s stock after acquiring an additional 30,189 shares during the quarter. Venture Visionary Partners LLC’s holdings in AppLovin were worth $5,469,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Quest Partners LLC acquired a new stake in shares of AppLovin during the 2nd quarter worth approximately $33,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in AppLovin during the second quarter worth $34,000. Covestor Ltd grew its position in AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after buying an additional 236 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in AppLovin in the second quarter valued at $37,000. Finally, Atlas Capital Advisors LLC acquired a new position in shares of AppLovin in the first quarter worth about $38,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APP has been the topic of a number of analyst reports. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and raised their target price for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. BTIG Research raised their price objective on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 13th. Jefferies Financial Group boosted their target price on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Benchmark increased their price target on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a report on Friday, August 23rd. Finally, Wedbush reduced their price objective on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $110.01.

Insiders Place Their Bets

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the sale, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. 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, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock worth $51,022,478 over the last 90 days. Corporate insiders own 14.69% of the company’s stock.

AppLovin Trading Up 9.4 %

APP stock traded up $13.63 during mid-day trading on Monday, hitting $158.85. 5,747,327 shares of the company were exchanged, compared to its average volume of 4,186,575. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The firm has a market capitalization of $52.26 billion, a P/E ratio of 92.93, a PEG ratio of 2.07 and a beta of 1.92. The business has a fifty day simple moving average of $111.99 and a 200-day simple moving average of $90.40. AppLovin Co. has a 12-month low of $34.45 and a 12-month high of $159.81.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the business posted $0.22 EPS. AppLovin’s revenue for the quarter was up 44.0% on a year-over-year basis. On average, equities research analysts predict that AppLovin Co. will post 3.46 earnings per share for the current fiscal year.

AppLovin Company 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.