AppLovin Co. (NASDAQ:APP) Shares Purchased by Diversify Advisory Services LLC

Diversify Advisory Services LLC raised its position in AppLovin Co. (NASDAQ:APP - Free Report) by 32.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,549 shares of the company's stock after acquiring an additional 3,823 shares during the quarter. Diversify Advisory Services LLC's holdings in AppLovin were worth $2,030,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of APP. DT Investment Partners LLC acquired a new stake in AppLovin during the 3rd quarter worth $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin in the third quarter worth $29,000. Quest Partners LLC purchased a new position in AppLovin in the second quarter valued at about $33,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of AppLovin during the 2nd quarter valued at approximately $34,000. Finally, Covestor Ltd boosted its stake in shares of AppLovin by 85.8% during the 1st quarter. Covestor Ltd now owns 511 shares of the company's stock worth $35,000 after acquiring an additional 236 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Down 0.0 %

APP stock traded down $0.06 during midday trading on Wednesday, hitting $172.18. 2,010,229 shares of the company's stock were exchanged, compared to its average volume of 4,140,634. The stock has a market capitalization of $57.55 billion, a price-to-earnings ratio of 73.15, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The firm has a 50 day moving average price of $123.04 and a 200-day moving average price of $94.65. AppLovin Co. has a 12-month low of $35.79 and a 12-month high of $174.46.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm's quarterly revenue was up 44.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. On average, analysts anticipate that AppLovin Co. will post 3.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on APP shares. Citigroup boosted their price objective on shares of AppLovin from $155.00 to $185.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Macquarie reissued an "outperform" rating and issued a $150.00 price target (up from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. UBS Group raised shares of AppLovin from a "neutral" rating to a "buy" rating and raised their price target for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. Jefferies Financial Group upped their target price on AppLovin from $105.00 to $108.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Finally, Benchmark boosted their price objective on shares of AppLovin from $48.00 to $66.00 and gave the company a "sell" rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $136.78.

Insider Transactions at AppLovin

In related news, CMO Katie Kihorany Jansen sold 72,307 shares of the company's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the sale, the chief marketing officer now directly owns 1,164,396 shares of the company's stock, valued at approximately $88,121,489.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the sale, the chief marketing officer now owns 1,164,396 shares of the company's stock, valued at $88,121,489.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Stumpf sold 60,615 shares of the company's stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the completion of the sale, the chief financial officer now directly owns 254,458 shares of the company's stock, valued at $20,262,490.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 610,094 shares of company stock valued at $51,022,478. 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.