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

Atria Investments Inc purchased a new position in AppLovin Co. (NASDAQ:APP - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,399 shares of the company's stock, valued at approximately $574,000.

Other large investors also recently modified their holdings of the company. Assetmark Inc. increased its stake in AppLovin by 131.8% in the 3rd quarter. Assetmark Inc. now owns 9,637 shares of the company's stock worth $1,258,000 after acquiring an additional 5,480 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of AppLovin by 128.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 11,022 shares of the company's stock worth $1,439,000 after buying an additional 6,206 shares during the last quarter. Seascape Capital Management purchased a new stake in shares of AppLovin during the 3rd quarter valued at $3,854,000. CWA Asset Management Group LLC bought a new stake in shares of AppLovin during the 3rd quarter worth $1,730,000. Finally, Capital Performance Advisors LLP bought a new position in AppLovin in the third quarter valued at $25,000. 41.85% of the stock is currently owned by institutional investors.

Insider Activity at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares of the company's stock, valued at approximately $900,711.30. This represents a 12.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 235,542 shares of company stock worth $32,012,275 in the last three months. Company insiders own 14.69% of the company's stock.

AppLovin Stock Up 1.3 %

AppLovin stock traded up $4.03 during midday trading on Wednesday, hitting $325.22. 7,100,273 shares of the company's stock were exchanged, compared to its average volume of 4,423,998. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $342.51. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market cap of $109.14 billion, a PE ratio of 98.79, a P/E/G ratio of 3.58 and a beta of 1.86. The firm has a 50-day moving average of $168.07 and a two-hundred day moving average of $112.43.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate 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%. AppLovin's revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. As a group, analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Jefferies Financial Group lifted their target price on shares of AppLovin from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Tuesday, September 10th. Piper Sandler began coverage on AppLovin in a research note on Wednesday. They issued an "overweight" rating and a $400.00 target price for the company. Bank of America raised their price target on AppLovin from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Wells Fargo & Company boosted their price objective on AppLovin from $250.00 to $360.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Macquarie raised their target price on shares of AppLovin from $150.00 to $270.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $222.96.

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.