B. Riley Wealth Advisors Inc. Has $841,000 Holdings in AppLovin Co. (NASDAQ:APP)

B. Riley Wealth Advisors Inc. lifted its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 43.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,391 shares of the company's stock after purchasing an additional 1,929 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in AppLovin were worth $841,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of APP. Franklin Resources Inc. raised its holdings in AppLovin by 37.0% during the third quarter. Franklin Resources Inc. now owns 996,996 shares of the company's stock worth $130,158,000 after purchasing an additional 269,134 shares in the last quarter. Castellan Group bought a new stake in shares of AppLovin in the 3rd quarter worth $8,799,000. Optimist Retirement Group LLC acquired a new stake in shares of AppLovin in the third quarter valued at $284,000. Wilmington Savings Fund Society FSB bought a new position in AppLovin during the third quarter valued at about $833,000. Finally, Sanctuary Advisors LLC grew its holdings in AppLovin by 341.3% during the third quarter. Sanctuary Advisors LLC now owns 12,789 shares of the company's stock worth $1,670,000 after acquiring an additional 9,891 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

APP has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a "buy" rating in a report on Thursday, December 5th. JPMorgan Chase & Co. increased their target price on shares of AppLovin from $160.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Bank of America lifted their price target on shares of AppLovin from $252.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Citigroup upped their price target on AppLovin from $335.00 to $460.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Finally, Jefferies Financial Group raised their price objective on AppLovin from $270.00 to $400.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $296.40.

AppLovin Stock Down 7.3 %

AppLovin stock traded down $24.82 during trading hours on Wednesday, hitting $313.07. The company had a trading volume of 6,802,980 shares, compared to its average volume of 4,618,274. The firm's fifty day moving average is $257.36 and its 200-day moving average is $150.02. The firm has a market capitalization of $105.06 billion, a P/E ratio of 94.87, a price-to-earnings-growth ratio of 4.17 and a beta of 2.28. AppLovin Co. has a fifty-two week low of $37.40 and a fifty-two week high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP - Get Free Report) last announced 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. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. 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 company earned $0.30 earnings per share. AppLovin's quarterly revenue was up 38.6% compared to the same quarter last year. On average, research analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current year.

Insider Activity

In other AppLovin news, Director Craig Scott Billings sold 18,000 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the sale, the director now owns 2,987 shares of the company's stock, valued at $952,673.78. The trade was a 85.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the company's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now owns 3,058,635 shares of the company's stock, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 872,896 shares of company stock worth $279,773,021 in the last three months. 14.69% of the stock is owned by 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.