Prospera Financial Services Inc Takes $294,000 Position in AppLovin Co. (NASDAQ:APP)

Prospera Financial Services Inc bought a new stake in shares of AppLovin Co. (NASDAQ:APP) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,254 shares of the company’s stock, valued at approximately $294,000.

Other large investors have also added to or reduced their stakes in the company. WCM Investment Management LLC raised its holdings in AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares in the last quarter. Lone Pine Capital LLC raised its stake in AppLovin by 7.2% in the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after buying an additional 382,767 shares in the last quarter. Fred Alger Management LLC purchased a new stake in AppLovin in the second quarter worth about $290,655,000. 1832 Asset Management L.P. lifted its holdings in AppLovin by 977.2% in the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after buying an additional 1,357,400 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in AppLovin by 27.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,494,516 shares of the company’s stock valued at $124,372,000 after acquiring an additional 322,563 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Up 4.7 %

Shares of NASDAQ:APP opened at $333.31 on Monday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 1 year low of $35.79 and a 1 year high of $342.51. The company has a market cap of $111.86 billion, a P/E ratio of 101.00, a PEG ratio of 3.92 and a beta of 1.86. The stock’s fifty day moving average price is $181.30 and its 200-day moving average price is $117.71.

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 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 the consensus estimate of $1.13 billion. During the same quarter last year, the firm posted $0.30 EPS. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. Sell-side analysts expect that AppLovin Co. will post 4.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on APP shares. Citigroup increased their target price on AppLovin from $185.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Stifel Nicolaus increased their price objective on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and increased their price target for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Finally, UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.96.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the sale, the chief technology officer now directly owns 4,530,455 shares in the company, valued at $381,192,483.70. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the 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 completion of the transaction, the director now owns 10,247 shares in the company, valued at $900,711.30. This trade represents a 12.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 854,065 shares of company stock worth $233,072,408. 14.69% of the stock is owned by insiders.

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.