Virtu Financial LLC Makes New $3.21 Million Investment in AppLovin Co. (NASDAQ:APP)

Virtu Financial LLC purchased a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 24,595 shares of the company's stock, valued at approximately $3,211,000.

A number of other large investors have also bought and sold shares of APP. Invst LLC grew its holdings in AppLovin by 23.2% in the 3rd quarter. Invst LLC now owns 6,812 shares of the company's stock worth $889,000 after acquiring an additional 1,284 shares during the last quarter. TD Private Client Wealth LLC grew its stake in shares of AppLovin by 272.0% in the third quarter. TD Private Client Wealth LLC now owns 305 shares of the company's stock worth $40,000 after purchasing an additional 223 shares during the last quarter. Toronto Dominion Bank raised its position in AppLovin by 38.8% during the 3rd quarter. Toronto Dominion Bank now owns 25,174 shares of the company's stock valued at $3,286,000 after purchasing an additional 7,039 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in AppLovin by 11.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,428 shares of the company's stock worth $578,000 after buying an additional 462 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of AppLovin by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company's stock worth $514,418,000 after buying an additional 449,241 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on APP. Piper Sandler initiated coverage on shares of AppLovin in a research report on Wednesday, November 20th. They set an "overweight" rating and a $400.00 price objective on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research note on Thursday, November 7th. Stifel Nicolaus increased their price target on shares of AppLovin from $250.00 to $435.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Wedbush reiterated an "outperform" rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, Jefferies Financial Group raised their target price on AppLovin from $270.00 to $400.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $292.79.

Insiders Place Their Bets

In other news, Director Craig Scott Billings sold 18,000 shares of the firm's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the transaction, the director now owns 2,987 shares of the company's stock, valued at $952,673.78. This trade represents a 85.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 773,896 shares of company stock valued at $247,152,521. Insiders own 14.69% of the company's stock.

AppLovin Stock Performance

Shares of AppLovin stock traded down $7.55 during trading on Thursday, hitting $330.66. 2,884,094 shares of the company's stock traded hands, compared to its average volume of 4,580,290. AppLovin Co. has a 1 year low of $36.33 and a 1 year high of $417.64. The business has a 50-day simple moving average of $238.48 and a 200-day simple moving average of $141.40. The stock has a market capitalization of $110.97 billion, a P/E ratio of 102.49, a PEG ratio of 4.95 and a beta of 2.27. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business's revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 earnings per share. As a group, analysts forecast that AppLovin Co. will post 4.06 EPS 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.