Range Financial Group LLC Purchases Shares of 6,909 AppLovin Co. (NASDAQ:APP)

Range Financial Group LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,909 shares of the company’s stock, valued at approximately $2,237,000. AppLovin accounts for about 1.0% of Range Financial Group LLC’s investment portfolio, making the stock its 25th largest position.

A number of other hedge funds have also recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the 3rd quarter worth about $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin during the 3rd quarter worth about $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin during the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin during the 3rd quarter worth about $29,000. Finally, Quest Partners LLC acquired a new stake in shares of AppLovin during the 2nd quarter worth about $33,000. 41.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

APP has been the subject of several research reports. Bank of America raised their price objective on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Stifel Nicolaus raised their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Wells Fargo & Company raised their price objective on shares of AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Citigroup raised their price objective on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and raised their price objective for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $310.71.

Insider Buying and Selling

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 888,867 shares of company stock worth $284,773,062. Insiders own 14.69% of the company’s stock.

AppLovin Stock Down 7.0 %

APP traded down $24.92 during trading on Tuesday, reaching $330.01. 6,609,917 shares of the stock were exchanged, compared to its average volume of 4,936,474. The stock has a market cap of $110.75 billion, a P/E ratio of 100.00, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. AppLovin Co. has a twelve month low of $37.95 and a twelve month high of $417.64. The stock’s 50 day moving average price is $305.81 and its two-hundred day moving average price is $174.20. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion for 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 for the quarter was up 38.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 earnings per share. Equities analysts expect that AppLovin Co. will post 4.06 EPS for the current 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.