Atomi Financial Group Inc. Takes $305,000 Position in AppLovin Co. (NASDAQ:APP)

Atomi Financial Group Inc. purchased a new position in AppLovin Co. (NASDAQ:APP) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,336 shares of the company’s stock, valued at approximately $305,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quarry LP purchased a new position in AppLovin in the fourth quarter valued at approximately $44,000. American Trust bought a new stake in AppLovin in the 4th quarter valued at about $215,000. Virtu Financial LLC purchased a new stake in AppLovin during the fourth quarter valued at about $764,000. EP Wealth Advisors LLC boosted its position in AppLovin by 22.0% during the fourth quarter. EP Wealth Advisors LLC now owns 10,204 shares of the company’s stock worth $407,000 after purchasing an additional 1,840 shares during the period. Finally, Tucker Asset Management LLC purchased a new position in shares of AppLovin in the fourth quarter worth about $181,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Eduardo Vivas sold 229,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the transaction, the director now owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the transaction, the director now directly owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 610,094 shares of company stock valued at $51,022,478 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $147.00 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The firm’s fifty day simple moving average is $104.70 and its 200 day simple moving average is $87.64. The stock has a market cap of $49.13 billion, a P/E ratio of 62.55, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. AppLovin Co. has a twelve month low of $34.45 and a twelve month high of $147.60.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company earned $0.22 earnings per share. AppLovin’s quarterly revenue was up 44.0% on a year-over-year basis. As a group, research analysts predict that AppLovin Co. will post 3.46 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Jefferies Financial Group upped their price target on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Macquarie reaffirmed an “outperform” rating and issued a $150.00 price target (up from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. BTIG Research boosted their price objective on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Bank of America raised their target price on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Wedbush decreased their price target on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.