Hantz Financial Services Inc. Buys 2,427 Shares of AppLovin Co. (NASDAQ:APP)

Hantz Financial Services Inc. boosted its stake in shares of AppLovin Co. (NASDAQ:APP) by 83.6% in the third quarter, Holdings Channel reports. The firm owned 5,330 shares of the company’s stock after acquiring an additional 2,427 shares during the period. Hantz Financial Services Inc.’s holdings in AppLovin were worth $696,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the period. Fred Alger Management LLC acquired a new position in shares of AppLovin during the 2nd quarter worth about $290,655,000. 1832 Asset Management L.P. boosted its stake in AppLovin by 977.2% during the 2nd 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 period. WCM Investment Management LLC grew 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 valued at $1,382,307,000 after buying an additional 1,029,009 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its position in AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after buying an additional 500,407 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Trading Up 2.5 %

Shares of AppLovin stock opened at $336.75 on Monday. The stock has a market capitalization of $113.01 billion, a P/E ratio of 102.05, a price-to-earnings-growth ratio of 4.15 and a beta of 1.86. AppLovin Co. has a 12-month low of $35.79 and a 12-month high of $344.77. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a 50-day simple moving average of $201.91 and a 200 day simple moving average of $126.00.

AppLovin (NASDAQ:APP) last posted its 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. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 earnings per share. Research analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 154,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of 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 3.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Stumpf sold 21,101 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the transaction, the chief financial officer now owns 213,336 shares in the company, valued at $70,970,487.12. The trade was a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 884,395 shares of company stock worth $243,101,629. 14.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Piper Sandler started coverage on AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price objective for the company. The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $103.00 to $150.00 in a report on Monday, October 14th. Citigroup increased their target price on shares of AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Loop Capital boosted their price target on AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $265.57.

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.