AppLovin Co. (NASDAQ:APP) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in AppLovin Co. (NASDAQ:APP - Free Report) by 45.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 374,892 shares of the company's stock after acquiring an additional 117,186 shares during the quarter. Victory Capital Management Inc. owned approximately 0.11% of AppLovin worth $48,942,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. HM Payson & Co. lifted its stake in shares of AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company's stock valued at $39,000 after purchasing an additional 100 shares during the period. Aptus Capital Advisors LLC lifted its position in AppLovin by 0.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company's stock valued at $4,371,000 after acquiring an additional 104 shares in the last quarter. Ashton Thomas Securities LLC boosted its stake in AppLovin by 2.6% during the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company's stock valued at $626,000 after purchasing an additional 121 shares during the last quarter. GAMMA Investing LLC raised its position in AppLovin by 8.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,665 shares of the company's stock worth $217,000 after buying an additional 126 shares during the last quarter. Finally, American Trust boosted its holdings in AppLovin by 2.8% in the first quarter. American Trust now owns 5,550 shares of the company's stock worth $384,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on APP shares. BTIG Research boosted their price target on AppLovin from $202.00 to $291.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Benchmark reiterated a "sell" rating and set a $66.00 price objective on shares of AppLovin in a research note on Thursday, November 7th. Macquarie upped their price objective on AppLovin from $150.00 to $270.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on shares of AppLovin from $160.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Loop Capital lifted their target price on shares of AppLovin from $181.00 to $385.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AppLovin presently has an average rating of "Moderate Buy" and an average target price of $194.31.

AppLovin Stock Up 2.3 %

Shares of AppLovin stock traded up $6.60 during trading hours on Friday, hitting $291.09. 24,367,480 shares of the company's stock traded hands, compared to its average volume of 4,402,378. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $302.55. The company has a market cap of $97.30 billion, a PE ratio of 88.21, a PEG ratio of 3.49 and a beta of 1.86. 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 stock has a 50 day simple moving average of $159.14 and a 200-day simple moving average of $108.84.

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

Insider Buying and Selling

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of the firm's 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 owns 1,017,388 shares of the company's stock, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 14,166 shares of the company's stock in a transaction that occurred on 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 transaction, the insider now directly owns 352,616 shares of the company's stock, valued at $31,728,387.68. This trade represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 235,542 shares of company stock worth $32,012,275. Corporate insiders own 14.69% of the company's stock.

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.