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4,378 Shares in AppLovin Co. (NASDAQ:APP) Acquired by Axxcess Wealth Management LLC

AppLovin logo with Business Services background

Axxcess Wealth Management LLC bought a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,378 shares of the company's stock, valued at approximately $572,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of APP. Janney Montgomery Scott LLC increased its stake in shares of AppLovin by 167.0% in the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company's stock worth $1,118,000 after purchasing an additional 10,099 shares in the last quarter. Empowered Funds LLC bought a new position in shares of AppLovin in the first quarter worth $1,235,000. SG Americas Securities LLC boosted its position in shares of AppLovin by 33.5% during the 1st quarter. SG Americas Securities LLC now owns 4,100 shares of the company's stock valued at $284,000 after acquiring an additional 1,028 shares during the last quarter. Sei Investments Co. grew its holdings in shares of AppLovin by 457.9% during the first quarter. Sei Investments Co. now owns 291,359 shares of the company's stock worth $20,168,000 after purchasing an additional 239,131 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in shares of AppLovin by 9.7% in the first quarter. QRG Capital Management Inc. now owns 7,988 shares of the company's stock worth $553,000 after purchasing an additional 705 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 154,500 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief technology officer now directly owns 4,530,455 shares in the company, valued at $381,192,483.70. This represents a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Victoria Valenzuela sold 14,166 shares of the business's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. This represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 404,866 shares of company stock worth $34,670,777 in the last three months. 14.69% of the stock is currently owned by company insiders.

AppLovin Stock Up 0.2 %

Shares of NASDAQ:APP traded up $0.53 on Thursday, hitting $284.49. 7,159,306 shares of the company traded hands, compared to its average volume of 4,312,054. The stock has a 50 day simple moving average of $151.08 and a 200-day simple moving average of $105.82. 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 company has a market cap of $95.09 billion, a PE ratio of 86.05, a PEG ratio of 3.56 and a beta of 1.86. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $302.55.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on APP shares. Wedbush reiterated an "outperform" rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Loop Capital upped their price objective on shares of AppLovin from $181.00 to $385.00 and gave the company a "buy" rating in a research note on Monday. Jefferies Financial Group raised their target price on AppLovin from $105.00 to $108.00 and gave the stock a "buy" rating in a research note on Tuesday, September 10th. Stifel Nicolaus increased 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. Finally, Daiwa Capital Markets upgraded AppLovin from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. 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 company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.31.

Check Out Our Latest Report on APP

AppLovin Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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