AppLovin Co. (NASDAQ:APP) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lessened its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 26.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,200 shares of the company's stock after selling 4,385 shares during the period. Cornercap Investment Counsel Inc.'s holdings in AppLovin were worth $1,593,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in AppLovin by 33.5% during the first 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. QRG Capital Management Inc. lifted its stake in shares of AppLovin by 9.7% in the 1st 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 period. US Bancorp DE lifted its stake in shares of AppLovin by 45.1% in the 1st quarter. US Bancorp DE now owns 11,172 shares of the company's stock worth $773,000 after purchasing an additional 3,472 shares during the period. Bleakley Financial Group LLC bought a new stake in AppLovin during the first quarter valued at approximately $258,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in AppLovin during the first quarter valued at approximately $343,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Oppenheimer raised their price objective on AppLovin from $180.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. BTIG Research increased their target price on AppLovin from $202.00 to $291.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research note on Thursday, November 7th. Wedbush restated an "outperform" rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, Stifel Nicolaus lifted their price target on AppLovin from $185.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, AppLovin presently has an average rating of "Moderate Buy" and a consensus target price of $194.31.

AppLovin Stock Up 2.3 %

APP stock traded up $6.60 during trading on Friday, hitting $291.09. 24,346,408 shares of the company's stock traded hands, compared to its average volume of 4,402,327. 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 firm has a market capitalization of $97.30 billion, a P/E ratio of 86.62, a PEG ratio of 3.49 and a beta of 1.86. AppLovin Co. has a 1 year low of $35.79 and a 1 year high of $302.55. The business has a fifty day simple moving average of $155.01 and a two-hundred day simple moving average of $107.06.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating 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 firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the business posted $0.30 EPS. The business's revenue for the quarter was up 38.6% compared to the same quarter last year. Sell-side analysts anticipate that AppLovin Co. will post 4.06 EPS for the current year.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 154,500 shares of the business's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.14, for a total transaction 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 $381,192,483.70. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 235,542 shares of company stock worth $32,012,275. Company 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.