OneAscent Financial Services LLC Makes New $339,000 Investment in AppLovin Co. (NASDAQ:APP)

OneAscent Financial Services LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,599 shares of the company's stock, valued at approximately $339,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in AppLovin by 33.5% in the 1st quarter. SG Americas Securities LLC now owns 4,100 shares of the company's stock valued at $284,000 after buying an additional 1,028 shares in the last quarter. US Bancorp DE lifted its stake in AppLovin by 45.1% in the first 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 last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of AppLovin by 9,470.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company's stock valued at $17,336,000 after acquiring an additional 248,022 shares during the period. Intech Investment Management LLC purchased a new position in shares of AppLovin in the first quarter valued at about $808,000. Finally, Acadian Asset Management LLC increased its position in shares of AppLovin by 2,081.4% during the first quarter. Acadian Asset Management LLC now owns 16,339 shares of the company's stock valued at $1,127,000 after buying an additional 15,590 shares during the period. Institutional investors own 41.85% of the company's stock.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction dated Thursday, August 22nd. The stock was 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 in the company, valued at approximately $31,728,387.68. This trade represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 154,500 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the transaction, the chief technology officer now owns 4,530,455 shares of the company's stock, valued at approximately $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 quarter, insiders have sold 235,542 shares of company stock worth $32,012,275. Insiders own 14.69% of the company's stock.

AppLovin Stock Up 7.8 %

NASDAQ:APP traded up $23.19 on Tuesday, hitting $321.19. 5,592,030 shares of the company's stock traded hands, compared to its average volume of 4,412,029. The company has a market cap of $107.79 billion, a PE ratio of 97.33, a price-to-earnings-growth ratio of 3.58 and a beta of 1.86. 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 1 year low of $35.79 and a 1 year high of $323.59. The firm has a 50-day moving average price of $168.07 and a 200-day moving average price of $112.43.

AppLovin (NASDAQ:APP - Get Free Report) last posted its 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. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company's revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 EPS. Equities analysts anticipate that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of recent analyst reports. Daiwa America upgraded shares of AppLovin from a "hold" rating to a "strong-buy" rating in a report on Friday, November 8th. Loop Capital raised their price objective on shares of AppLovin from $181.00 to $385.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Thursday, November 7th. Wells Fargo & Company began coverage on shares of AppLovin in a research note on Monday, October 28th. They issued an "overweight" rating and a $200.00 price objective for the company. Finally, Daiwa Capital Markets raised shares of AppLovin from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and an average price target 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.