Raleigh Capital Management Inc. Purchases Shares of 224 AppLovin Co. (NASDAQ:APP)

Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 224 shares of the company’s stock, valued at approximately $29,000.

A number of other hedge funds also recently modified their holdings of APP. Quest Partners LLC bought a new position in AppLovin during the 2nd quarter worth approximately $33,000. Oliver Lagore Vanvalin Investment Group bought a new position in AppLovin during the second quarter worth $34,000. Covestor Ltd boosted its position in AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after acquiring an additional 236 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in AppLovin during the 2nd quarter worth about $37,000. Finally, Atlas Capital Advisors LLC bought a new position in shares of AppLovin in the 1st quarter worth about $38,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on APP shares. Jefferies Financial Group lifted their target price on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. BTIG Research boosted their target price on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Loop Capital began coverage on shares of AppLovin in a report on Tuesday. They issued a “buy” rating and a $181.00 price target for the company. Oppenheimer upped their price objective on shares of AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on AppLovin from $57.00 to $160.00 and gave the company a “neutral” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.58.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the sale, the chief financial officer now directly owns 254,458 shares in the company, valued at approximately $20,262,490.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 610,094 shares of company stock worth $51,022,478. 14.69% of the stock is owned by company insiders.

AppLovin Trading Up 0.3 %

Shares of APP stock opened at $159.40 on Thursday. AppLovin Co. has a 52-week low of $34.45 and a 52-week high of $165.38. The company has a 50-day simple moving average of $115.25 and a two-hundred day simple moving average of $91.60. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. The company has a market capitalization of $52.44 billion, a price-to-earnings ratio of 94.88, a PEG ratio of 2.07 and a beta of 1.92.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business posted $0.22 earnings per share. AppLovin’s revenue was up 44.0% on a year-over-year basis. Research analysts anticipate that AppLovin Co. will post 3.46 EPS for the current fiscal year.

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.