Strategic Blueprint LLC Boosts Holdings in AppLovin Co. (NASDAQ:APP)

Strategic Blueprint LLC grew its position in shares of AppLovin Co. (NASDAQ:APP) by 13.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,140 shares of the company’s stock after purchasing an additional 383 shares during the period. Strategic Blueprint LLC’s holdings in AppLovin were worth $410,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in APP. DT Investment Partners LLC purchased a new stake in AppLovin in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin during the 3rd quarter valued at $29,000. ORG Wealth Partners LLC bought a new stake in shares of AppLovin during the 3rd quarter worth $42,000. Quest Partners LLC purchased a new position in AppLovin in the second quarter worth $33,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in AppLovin in the second quarter valued at $34,000. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin 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 sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction on 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 transaction, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vasily Shikin sold 5,500 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $86.04, for a total transaction of $473,220.00. Following the sale, the chief technology officer now owns 4,536,447 shares in the company, valued at approximately $390,315,899.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock valued at $51,022,478 over the last three months. Corporate insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on AppLovin from $57.00 to $160.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and increased their price target for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. Stifel Nicolaus boosted their price objective on shares of AppLovin from $100.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Loop Capital started coverage on shares of AppLovin in a report on Tuesday, October 22nd. They set a “buy” rating and a $181.00 target price on the stock. Finally, The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $136.78.

AppLovin Price Performance

Shares of APP stock opened at $169.39 on Friday. 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 firm has a market cap of $56.62 billion, a P/E ratio of 72.08, a P/E/G ratio of 2.07 and a beta of 1.92. The business’s 50 day moving average price is $126.27 and its 200-day moving average price is $95.70. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $174.46.

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

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.