CWA Asset Management Group LLC Invests $1.73 Million in AppLovin Co. (NASDAQ:APP)

CWA Asset Management Group LLC acquired a new stake in shares of AppLovin Co. (NASDAQ:APP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,248 shares of the company’s stock, valued at approximately $1,730,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin in the 3rd quarter valued at about $25,000. DT Investment Partners LLC bought a new position in shares of AppLovin in the third quarter worth approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in AppLovin in the third quarter valued at approximately $29,000. Quest Partners LLC bought a new stake in AppLovin during the second quarter valued at approximately $33,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in AppLovin during the second quarter valued at approximately $34,000. Institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related news, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin 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 owns 1,164,396 shares in the company, valued at $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction that occurred 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 sale, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The trade was a 0.00 % 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, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total value of $5,472,193.76. Following the completion of the sale, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. 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 quarter. 14.69% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on APP shares. Benchmark restated a “sell” rating and set a $66.00 price objective on shares of AppLovin in a research report on Thursday. Oppenheimer raised their price target on AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $280.00 in a report on Friday. Jefferies Financial Group raised their price objective on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, BTIG Research upped their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $182.31.

AppLovin Price Performance

APP stock opened at $290.01 on Friday. The stock has a market capitalization of $96.94 billion, a price-to-earnings ratio of 87.88, a PEG ratio of 2.43 and a beta of 1.86. The firm’s 50-day moving average price is $139.27 and its two-hundred day moving average price is $101.29. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin Co. has a 12-month low of $35.79 and a 12-month high of $292.86.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results 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 122.06% and a net margin of 26.85%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the business earned $0.30 EPS. AppLovin’s revenue was up 38.6% compared to the same quarter last year. As a group, equities analysts predict that AppLovin Co. will post 3.47 earnings per share for the current year.

About AppLovin

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.