Atria Investments Inc Invests $574,000 in AppLovin Co. (NASDAQ:APP)

Atria Investments Inc purchased a new position in AppLovin Co. (NASDAQ:APP) during the third quarter, HoldingsChannel.com reports. The fund purchased 4,399 shares of the company’s stock, valued at approximately $574,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Fred Alger Management LLC bought a new position in AppLovin in the 2nd quarter valued at approximately $290,655,000. Whale Rock Capital Management LLC bought a new position in AppLovin in the 1st quarter valued at approximately $195,129,000. Jericho Capital Asset Management L.P. lifted its position in AppLovin by 185.0% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after acquiring an additional 2,525,240 shares in the last quarter. 1832 Asset Management L.P. lifted its position in AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after acquiring an additional 1,357,400 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in AppLovin by 695.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 549,453 shares of the company’s stock valued at $45,725,000 after acquiring an additional 480,336 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 5,500 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $86.04, for a total value of $473,220.00. Following the sale, the chief technology officer now directly owns 4,536,447 shares in the company, valued at $390,315,899.88. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the sale, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 235,542 shares of company stock worth $32,012,275 over the last ninety days. Corporate insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on APP shares. BTIG Research boosted their target price on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Loop Capital boosted their target price on shares of AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Jefferies Financial Group boosted their target price 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. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and boosted their target price for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Finally, Wells Fargo & Company began coverage on AppLovin in a research note on Monday, October 28th. They issued an “overweight” rating and a $200.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $203.13.

AppLovin Stock Up 7.8 %

Shares of APP opened at $321.19 on Wednesday. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $323.59. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market capitalization of $107.79 billion, a price-to-earnings ratio of 97.33, a PEG ratio of 3.58 and a beta of 1.86. The stock’s 50-day moving average price is $168.07 and its 200-day moving average price is $112.43.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm posted $0.30 EPS. AppLovin’s quarterly revenue was up 38.6% compared to the same quarter last year. On average, sell-side analysts predict that AppLovin Co. will post 4.06 EPS for the current 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.