4,392 Shares in AppLovin Co. (NASDAQ:APP) Acquired by Colonial River Investments LLC

Colonial River Investments LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,392 shares of the company’s stock, valued at approximately $573,000.

A number of other hedge funds also recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin during the 3rd quarter worth about $25,000. DT Investment Partners LLC acquired a new position in AppLovin during the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin during the third quarter valued at approximately $29,000. HM Payson & Co. grew its stake in AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the period. Finally, ORG Wealth Partners LLC purchased a new position in shares of AppLovin in the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s 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 sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Matthew Stumpf sold 60,615 shares of AppLovin stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the sale, the chief financial officer now directly owns 254,458 shares in the company, valued at $20,262,490.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction 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 $900,711.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 610,094 shares of company stock worth $51,022,478 in the last ninety days. 14.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company began coverage on shares of AppLovin in a research report on Monday, October 28th. They set an “overweight” rating and a $200.00 price target for the company. BTIG Research increased their target price on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus raised their target price on AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a report on Thursday. Daiwa Capital Markets upgraded 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 report on Friday. Finally, UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $182.31.

AppLovin Stock Performance

Shares of APP stock opened at $290.01 on Friday. The company has a market cap of $96.94 billion, a P/E ratio of 87.88, a PEG ratio of 2.43 and a beta of 1.86. The business has a 50 day moving average of $139.27 and a two-hundred day moving average of $101.29. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $292.86. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.06% and a net margin of 26.85%. The firm’s revenue was up 38.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. As a group, analysts anticipate that AppLovin Co. will post 3.47 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.