Crossmark Global Holdings Inc. Makes New Investment in AppLovin Co. (NASDAQ:APP)

Crossmark Global Holdings Inc. bought a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,209 shares of the company's stock, valued at approximately $289,000.

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

AppLovin Trading Up 2.4 %

Shares of APP traded up $6.91 during mid-day trading on Monday, reaching $298.00. The company's stock had a trading volume of 5,366,052 shares, compared to its average volume of 4,405,833. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $302.55. The company's fifty day moving average price is $159.14 and its two-hundred day moving average price is $109.11. The stock has a market cap of $100.01 billion, a PE ratio of 90.30, a P/E/G ratio of 3.58 and a beta of 1.86.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The firm's revenue for the quarter was up 38.6% on a year-over-year basis. On average, analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In related news, 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 value of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares of the company's stock, valued at $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction that occurred 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 directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. The trade was a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 235,542 shares of company stock worth $32,012,275 in the last ninety days. 14.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on APP. Daiwa Capital Markets raised shares of AppLovin from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Daiwa America raised AppLovin from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 8th. Oppenheimer upped their target price on AppLovin from $180.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Wells Fargo & Company began coverage on AppLovin in a report on Monday, October 28th. They issued an "overweight" rating and a $200.00 target price for the company. Finally, The Goldman Sachs Group lowered AppLovin from a "buy" rating to a "neutral" rating and boosted their price target for the company from $103.00 to $150.00 in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and an average target price of $203.13.

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.