AppLovin Co. (NASDAQ:APP) is FORA Capital LLC’s Largest Position

FORA Capital LLC lifted its stake in AppLovin Co. (NASDAQ:APP) by 56.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 115,380 shares of the company’s stock after purchasing an additional 41,461 shares during the period. AppLovin accounts for about 1.8% of FORA Capital LLC’s investment portfolio, making the stock its biggest holding. FORA Capital LLC’s holdings in AppLovin were worth $15,063,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of APP. Great Valley Advisor Group Inc. boosted its position in AppLovin by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after acquiring an additional 60 shares in the last quarter. HM Payson & Co. lifted its stake in shares of AppLovin by 50.0% in the 3rd 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 period. Aptus Capital Advisors LLC boosted its position 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 valued at $4,371,000 after purchasing an additional 104 shares in the last quarter. Ashton Thomas Securities LLC grew its stake in AppLovin by 2.6% in the third quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock worth $626,000 after purchasing an additional 121 shares during the period. Finally, GAMMA Investing LLC grew its stake in AppLovin by 8.2% in the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock worth $217,000 after purchasing an additional 126 shares during the period. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP traded down $7.99 during mid-day trading on Wednesday, hitting $321.78. 924,672 shares of the company traded hands, compared to its average volume of 4,451,304. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock’s fifty day moving average price is $185.37 and its 200-day moving average price is $119.37. The firm has a market cap of $107.99 billion, a price-to-earnings ratio of 99.93, a price-to-earnings-growth ratio of 3.94 and a beta of 1.86. AppLovin Co. has a one year low of $35.79 and a one year high of $344.77.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data 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 return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted $0.30 EPS. The firm’s revenue was up 38.6% on a year-over-year basis. Research analysts anticipate that AppLovin Co. will post 4.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

APP has been the topic of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Jefferies Financial Group boosted their price objective on shares of AppLovin from $270.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup lifted their target price on shares of AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. Wedbush restated an “outperform” rating and issued a $270.00 price target (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Finally, Piper Sandler initiated coverage on AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price objective for the company. One research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $265.57.

Insider Transactions at AppLovin

In related news, CTO Vasily Shikin sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $86.04, for a total value of $473,220.00. Following the transaction, the chief technology officer now directly owns 4,536,447 shares of the company’s stock, valued at approximately $390,315,899.88. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred 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 owns 10,247 shares of the company’s stock, valued at $900,711.30. The trade was a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 854,065 shares of company stock valued at $233,072,408 over the last three months. Corporate insiders own 14.69% of the company’s stock.

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.