Legacy Capital Wealth Partners LLC Invests $268,000 in AppLovin Co. (NASDAQ:APP)

Legacy Capital Wealth Partners LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,050 shares of the company’s stock, valued at approximately $268,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of 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 worth $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin during the third quarter valued at $29,000. Quest Partners LLC acquired a new stake in shares of AppLovin in the second quarter valued at about $33,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of AppLovin during the second quarter worth about $34,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APP has been the topic of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $280.00 in a research report on Friday. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday. Stifel Nicolaus lifted their target price on shares of AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group increased their target price on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. One equities research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $194.31.

Insider Activity at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 72,306 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $83.71, for a total value of $6,052,735.26. Following the completion of the transaction, the chief marketing officer now owns 1,092,090 shares of the company’s stock, valued at $91,418,853.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Eduardo Vivas sold 229,200 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the sale, the director now directly owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. This 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 accessible through the SEC website. Also, CMO Katie Kihorany Jansen sold 72,306 shares of AppLovin stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $83.71, for a total transaction of $6,052,735.26. Following the completion of the transaction, the chief marketing officer now owns 1,092,090 shares of the company’s stock, valued at $91,418,853.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 477,172 shares of company stock worth $40,723,512. Corporate insiders own 14.69% of the company’s stock.

AppLovin Trading Down 1.2 %

NASDAQ APP opened at $286.43 on Tuesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.28. The stock has a market capitalization of $95.74 billion, a P/E ratio of 86.80, a PEG ratio of 4.18 and a beta of 1.86. The firm’s 50-day moving average is $143.14 and its two-hundred day moving average is $103.05. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $292.86.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the business posted $0.30 EPS. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. On average, sell-side analysts anticipate that AppLovin Co. will post 3.98 earnings per share for the current year.

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.