Great Valley Advisor Group Inc. Purchases 60 Shares of AppLovin Co. (NASDAQ:APP)

Great Valley Advisor Group Inc. lifted its position in shares of AppLovin Co. (NASDAQ:APP) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,837 shares of the company’s stock after acquiring an additional 60 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in AppLovin were worth $370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. HM Payson & Co. raised its position in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Aptus Capital Advisors LLC increased its holdings in AppLovin by 0.3% in the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after purchasing an additional 104 shares during the last quarter. Ashton Thomas Securities LLC increased its holdings in AppLovin by 2.6% in the third quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after purchasing an additional 121 shares during the last quarter. GAMMA Investing LLC increased its holdings in AppLovin by 8.2% in the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after purchasing an additional 126 shares during the last quarter. Finally, American Trust increased its holdings in AppLovin by 2.8% in the first quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Piper Sandler assumed coverage on AppLovin in a report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price objective for the company. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Citigroup boosted their target price on AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $265.57.

AppLovin Stock Performance

APP opened at $328.56 on Thursday. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $344.77. The firm has a market capitalization of $110.26 billion, a PE ratio of 99.56, a PEG ratio of 3.94 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The business’s 50-day simple moving average is $189.49 and its 200 day simple moving average is $121.08.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. AppLovin’s revenue was up 38.6% on a year-over-year basis. As a group, sell-side analysts expect that AppLovin Co. will post 4.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 154,500 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $84.14, for a total value of $12,999,630.00. Following the sale, the chief technology officer now owns 4,530,455 shares in the company, valued at $381,192,483.70. This represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Stumpf sold 21,101 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $332.67, for a total value of $7,019,669.67. Following the completion of the sale, the chief financial officer now owns 213,336 shares in the company, valued at $70,970,487.12. This represents a 9.00 % 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. Corporate insiders own 14.69% of the company’s stock.

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.