Aviance Capital Partners LLC Makes New $261,000 Investment in AppLovin Co. (NASDAQ:APP)

Aviance Capital Partners LLC purchased a new stake in AppLovin Co. (NASDAQ:APP - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,000 shares of the company's stock, valued at approximately $261,000.

A number of other hedge funds have also modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in AppLovin in the 3rd quarter valued at about $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the third quarter worth approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in AppLovin in the third quarter valued at approximately $29,000. HM Payson & Co. increased its position in AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company's stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in AppLovin during the third quarter worth approximately $42,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 154,500 shares of AppLovin stock in a transaction dated Friday, September 6th. The stock was 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 of the company's stock, valued at approximately $381,192,483.70. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the director now directly owns 10,247 shares of the company's stock, valued at $900,711.30. This represents a 12.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 235,542 shares of company stock worth $32,012,275. 14.69% of the stock is owned by corporate insiders.

AppLovin Price Performance

Shares of NASDAQ:APP traded up $4.03 during trading on Wednesday, reaching $325.22. The company had a trading volume of 7,100,273 shares, compared to its average volume of 4,423,998. AppLovin Co. has a twelve month low of $35.79 and a twelve 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 firm has a market capitalization of $109.14 billion, a PE ratio of 98.79, a price-to-earnings-growth ratio of 3.58 and a beta of 1.86. The firm's fifty day moving average is $168.07 and its 200 day moving average is $112.43.

AppLovin (NASDAQ:APP - Get Free Report) last released its 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 firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The firm's revenue for the quarter was up 38.6% compared to the same quarter last year. On average, equities analysts forecast that AppLovin Co. will post 4.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on APP shares. BTIG Research upped their price objective on AppLovin from $202.00 to $291.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Stifel Nicolaus raised their price objective on AppLovin from $185.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Oppenheimer boosted their target price on AppLovin from $180.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Piper Sandler assumed coverage on shares of AppLovin in a research report on Wednesday. They set an "overweight" rating and a $400.00 target price for the company. Finally, UBS Group raised shares of AppLovin from a "neutral" rating to a "buy" rating and lifted their price target for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AppLovin presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.96.

About AppLovin

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.