Axxcess Wealth Management LLC Takes $572,000 Position in AppLovin Co. (NASDAQ:APP)

Axxcess Wealth Management LLC acquired a new stake in AppLovin Co. (NASDAQ:APP) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,378 shares of the company’s stock, valued at approximately $572,000.

Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC bought a new position in shares of AppLovin in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin in the third quarter valued at approximately $29,000. HM Payson & Co. boosted its position in shares of AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in shares of AppLovin in the third quarter valued at approximately $42,000. 41.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the transaction, the chief technology officer now directly owns 4,530,455 shares of the company’s stock, valued at approximately $381,192,483.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the sale, the chief technology officer now owns 4,530,455 shares in the company, valued at approximately $381,192,483.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 404,866 shares of company stock valued at $34,670,777. 14.69% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

APP has been the subject of several research analyst reports. Wells Fargo & Company initiated coverage on shares of AppLovin in a research report on Monday, October 28th. They set an “overweight” rating and a $200.00 target price for the company. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their target price for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and lifted their target price for the company from $103.00 to $150.00 in a research report on Monday, October 14th. Oppenheimer lifted their target price on shares of AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $194.31.

AppLovin Stock Down 1.8 %

Shares of NASDAQ APP opened at $283.96 on Thursday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $292.86. The firm’s fifty day moving average is $147.16 and its 200 day moving average is $104.56. The company has a market cap of $94.91 billion, a price-to-earnings ratio of 86.05, a PEG ratio of 3.56 and a beta of 1.86.

AppLovin (NASDAQ:APP) last issued its earnings results 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 company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, equities research analysts expect that AppLovin Co. will post 4.06 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.