Hantz Financial Services Inc. Acquires Shares of 2,903 AppLovin Co. (NASDAQ:APP)

Hantz Financial Services Inc. acquired a new stake in AppLovin Co. (NASDAQ:APP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,903 shares of the company’s stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in APP. WCM Investment Management LLC acquired a new stake in shares of AppLovin during the 1st quarter worth approximately $497,488,000. Whale Rock Capital Management LLC acquired a new stake in shares of AppLovin during the 1st quarter worth approximately $195,129,000. Jericho Capital Asset Management L.P. grew its position in shares of AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after buying an additional 2,525,240 shares during the period. Norges Bank acquired a new stake in shares of AppLovin during the 4th quarter worth approximately $43,973,000. Finally, Jackson Square Partners LLC acquired a new stake in shares of AppLovin during the 1st quarter worth approximately $54,736,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of APP opened at $92.87 on Monday. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. AppLovin Co. has a twelve month low of $34.45 and a twelve month high of $93.70. The firm’s 50 day moving average price is $82.19 and its two-hundred day moving average price is $75.94. The firm has a market cap of $30.56 billion, a P/E ratio of 55.28, a PEG ratio of 1.33 and a beta of 1.86.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business’s revenue was up 44.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. On average, analysts forecast that AppLovin Co. will post 3.48 EPS for the current fiscal year.

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 4,371 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $75.65, for a total value of $330,666.15. Following the sale, the director now owns 11,565 shares of the company’s stock, valued at $874,892.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Dawson Alyssa Harvey sold 4,371 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $75.65, for a total value of $330,666.15. Following the sale, the director now owns 11,565 shares of the company’s stock, valued at $874,892.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the sale, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. The disclosure for this sale can be found here. Insiders have sold a total of 637,071 shares of company stock valued at $53,971,086 over the last 90 days. 14.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on APP shares. The Goldman Sachs Group lifted their price target on shares of AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Stifel Nicolaus boosted their price objective on shares of AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, May 9th. BTIG Research boosted their price objective on shares of AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, May 9th. Finally, Jefferies Financial Group boosted their price objective on shares of AppLovin from $93.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $82.86.

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.