AMG National Trust Bank Purchases New Shares in AppLovin Co. (NASDAQ:APP)

AMG National Trust Bank acquired a new stake in AppLovin Co. (NASDAQ:APP - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,725 shares of the company's stock, valued at approximately $225,000.

Several other hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the third quarter worth $25,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin during the third quarter worth about $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin during the third quarter worth about $29,000. Quest Partners LLC bought a new stake in AppLovin in the second quarter valued at about $33,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in AppLovin in the second quarter valued at about $34,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Up 1.3 %

NASDAQ APP opened at $325.22 on Thursday. The stock has a market cap of $109.14 billion, a PE ratio of 98.55, a PEG ratio of 3.58 and a beta of 1.86. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $342.51. The firm has a 50-day simple moving average of $172.62 and a 200 day simple moving average of $113.92.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. The Goldman Sachs Group downgraded AppLovin from a "buy" rating to a "neutral" rating and lifted their target price for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Citigroup upped their target price on AppLovin from $185.00 to $335.00 and gave the stock a "buy" rating in a research report on Monday. Daiwa America upgraded AppLovin from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 8th. Daiwa Capital Markets raised AppLovin from a "neutral" rating to an "outperform" rating and upped their price target for the company from $80.00 to $280.00 in a report on Friday, November 8th. Finally, 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. 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 data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $222.96.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 154,500 shares of the company's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the transaction, the chief technology officer now owns 4,530,455 shares in the company, valued at approximately $381,192,483.70. This represents a 3.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company's stock in a transaction dated 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 transaction, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. This trade represents a 12.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 221,376 shares of company stock valued at $30,737,619. 14.69% of the stock is owned by corporate insiders.

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.