Dynamic Advisor Solutions LLC Makes New Investment in AppLovin Co. (NASDAQ:APP)

Dynamic Advisor Solutions LLC bought a new stake in shares of AppLovin Co. (NASDAQ:APP) in the third quarter, HoldingsChannel.com reports. The firm bought 5,553 shares of the company’s stock, valued at approximately $725,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Contour Asset Management LLC increased its position in shares of AppLovin by 104.8% during the 4th quarter. Contour Asset Management LLC now owns 949,752 shares of the company’s stock valued at $37,848,000 after purchasing an additional 486,097 shares during the last quarter. Quarry LP bought a new stake in AppLovin during the fourth quarter valued at approximately $44,000. American Trust bought a new stake in AppLovin during the fourth quarter valued at approximately $215,000. Virtu Financial LLC purchased a new stake in AppLovin during the fourth quarter valued at approximately $764,000. Finally, EP Wealth Advisors LLC raised its position in AppLovin by 22.0% in the fourth quarter. EP Wealth Advisors LLC now owns 10,204 shares of the company’s stock worth $407,000 after acquiring an additional 1,840 shares during the period. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the sale, the chief marketing officer now owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock worth $51,022,478 over the last 90 days. 14.69% of the stock is owned by insiders.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $147.00 on Friday. The firm’s fifty day moving average is $104.70 and its two-hundred day moving average is $87.53. AppLovin Co. has a 52-week low of $34.45 and a 52-week high of $147.60. The company has a market cap of $49.13 billion, a P/E ratio of 62.55, a P/E/G ratio of 2.07 and a beta of 1.92. 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 (NASDAQ:APP) last posted its 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 firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the company earned $0.22 EPS. The company’s quarterly revenue was up 44.0% compared to the same quarter last year. As a group, analysts anticipate that AppLovin Co. will post 3.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on APP. BTIG Research boosted their price objective 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. Bank of America boosted their price target on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price objective (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. Finally, Citigroup increased their target price on shares of AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $106.44.

About AppLovin

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.