Advisors Asset Management Inc. Has $89,000 Holdings in AppLovin Co. (NASDAQ:APP)

Advisors Asset Management Inc. raised its stake in shares of AppLovin Co. (NASDAQ:APP) by 89.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 681 shares of the company’s stock after purchasing an additional 322 shares during the period. Advisors Asset Management Inc.’s holdings in AppLovin were worth $89,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the 3rd quarter worth $25,000. DT Investment Partners LLC bought a new stake in AppLovin in the 3rd quarter worth about $27,000. Meeder Asset Management Inc. bought a new stake in AppLovin in the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin during the 3rd quarter worth approximately $29,000. Finally, Quest Partners LLC purchased a new position in shares of AppLovin in the 2nd quarter worth approximately $33,000. 41.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Citigroup boosted their price target on shares of AppLovin from $185.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. BTIG Research raised their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Bank of America boosted their target price on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. One equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $265.57.

AppLovin Stock Performance

NASDAQ:APP opened at $336.75 on Friday. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $344.77. The business’s fifty day moving average is $201.91 and its 200 day moving average is $126.00. 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 firm has a market cap of $113.01 billion, a price-to-earnings ratio of 102.05, a PEG ratio of 4.05 and a beta of 1.86.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating 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 firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s revenue was up 38.6% on a year-over-year basis. Research analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

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 shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The trade was a 12.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eduardo Vivas sold 30,330 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $330.67, for a total transaction of $10,029,221.10. Following the completion of the transaction, the director now directly owns 90,576 shares in the company, valued at $29,950,765.92. The trade was a 25.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 884,395 shares of company stock valued at $243,101,629. Company insiders own 14.69% of the company’s stock.

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.