3,422 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Bay Rivers Group

Bay Rivers Group purchased a new position in AppLovin Co. (NASDAQ:APP - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,422 shares of the company's stock, valued at approximately $447,000.

Other hedge funds also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of AppLovin by 9,470.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company's stock worth $17,336,000 after purchasing an additional 248,022 shares during the period. Acadian Asset Management LLC raised its holdings in AppLovin by 2,081.4% during the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company's stock valued at $1,127,000 after acquiring an additional 15,590 shares during the period. Janney Montgomery Scott LLC raised its holdings in AppLovin by 167.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company's stock valued at $1,118,000 after acquiring an additional 10,099 shares during the period. Clearbridge Investments LLC raised its holdings in AppLovin by 73.0% during the 2nd quarter. Clearbridge Investments LLC now owns 893,344 shares of the company's stock valued at $74,344,000 after acquiring an additional 376,835 shares during the period. Finally, Sei Investments Co. raised its holdings in AppLovin by 77.0% during the 2nd quarter. Sei Investments Co. now owns 515,665 shares of the company's stock valued at $42,914,000 after acquiring an additional 224,306 shares during the period. Institutional investors own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the company's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Victoria Valenzuela sold 14,166 shares of the company's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the transaction, the insider now directly owns 352,616 shares of the company's stock, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the company's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the transaction, the chief marketing officer now directly owns 1,164,396 shares of the company's stock, valued at approximately $88,121,489.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock worth $51,022,478 over the last three months. Company insiders own 14.69% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on APP shares. Bank of America boosted their target price on shares of AppLovin from $100.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. The Goldman Sachs Group cut shares of AppLovin from a "buy" rating to a "neutral" rating and boosted their target price for the company from $103.00 to $150.00 in a report on Monday, October 14th. Wells Fargo & Company started coverage on shares of AppLovin in a report on Monday. They set an "overweight" rating and a $200.00 target price on the stock. Loop Capital started coverage on shares of AppLovin in a report on Tuesday, October 22nd. They set a "buy" rating and a $181.00 target price on the stock. Finally, Benchmark boosted their target price on shares of AppLovin from $48.00 to $66.00 and gave the company a "sell" rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $133.72.

AppLovin Price Performance

NASDAQ:APP traded up $6.06 during midday trading on Tuesday, hitting $172.24. The company had a trading volume of 2,871,234 shares, compared to its average volume of 4,150,809. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $172.55. The stock's fifty day moving average price is $121.33 and its 200-day moving average price is $93.97. The company has a market capitalization of $56.67 billion, a PE ratio of 98.92, a P/E/G ratio of 2.07 and a beta of 1.92. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business earned $0.22 earnings per share. The firm's quarterly revenue was up 44.0% compared to the same quarter last year. As a group, research analysts expect that AppLovin Co. will post 3.46 earnings per share for the current year.

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.