1,547 Shares in AppLovin Co. (NASDAQ:APP) Acquired by Alta Wealth Advisors LLC

Alta Wealth Advisors LLC purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) in the third quarter, HoldingsChannel reports. The institutional investor purchased 1,547 shares of the company’s stock, valued at approximately $202,000.

Several other hedge funds also recently modified their holdings of APP. Lone Pine Capital LLC boosted its stake in AppLovin by 7.2% during the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after buying an additional 382,767 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its position in shares of AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after purchasing an additional 2,525,240 shares in the last quarter. Fred Alger Management LLC acquired a new position in shares of AppLovin in the 2nd quarter worth approximately $290,655,000. Whale Rock Capital Management LLC bought a new stake in shares of AppLovin in the 1st quarter worth approximately $195,129,000. Finally, 1832 Asset Management L.P. lifted its stake in AppLovin by 977.2% during the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after purchasing an additional 1,357,400 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Trading Up 1.6 %

AppLovin stock opened at $145.22 on Friday. AppLovin Co. has a 12 month low of $34.45 and a 12 month high of $148.48. 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 stock has a market cap of $47.78 billion, a P/E ratio of 86.44, a P/E/G ratio of 2.07 and a beta of 1.92. The company’s fifty day simple moving average is $111.99 and its 200-day simple moving average is $90.27.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.12. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The business’s revenue was up 44.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS. As a group, sell-side analysts forecast that AppLovin Co. will post 3.46 EPS for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the sale, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at $20,262,490.54. 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 hyperlink. In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the transaction, the chief financial officer now directly owns 254,458 shares in the company, valued at $20,262,490.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Katie Kihorany Jansen sold 72,306 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $83.71, for a total value of $6,052,735.26. Following the sale, the chief marketing officer now owns 1,092,090 shares of the company’s stock, valued at approximately $91,418,853.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

APP has been the topic of several recent research reports. Citigroup lifted their price target on shares of AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Macquarie reaffirmed an “outperform” rating and set a $150.00 target price (up from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Jefferies Financial Group lifted their price target on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Benchmark upped their price objective on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Finally, Wedbush dropped their target price on shares of 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 given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.01.

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.