Pine Valley Investments Ltd Liability Co Takes Position in AppLovin Co. (NASDAQ:APP)

Pine Valley Investments Ltd Liability Co bought a new stake in AppLovin Co. (NASDAQ:APP - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,746 shares of the company's stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Townsquare Capital LLC raised its position in shares of AppLovin by 64.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company's stock worth $1,037,000 after acquiring an additional 3,126 shares in the last quarter. Second Half Financial Partners LLC bought a new stake in AppLovin in the third quarter worth approximately $224,000. State Street Corp lifted its stake in AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company's stock valued at $703,406,000 after buying an additional 428,419 shares during the period. Eagle Asset Management Inc. boosted its holdings in shares of AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company's stock worth $68,297,000 after buying an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management increased its stake in shares of AppLovin by 328.1% in the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company's stock valued at $13,854,000 after acquiring an additional 81,331 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Performance

APP traded down $1.74 during midday trading on Friday, reaching $324.47. The company had a trading volume of 4,704,074 shares, compared to its average volume of 4,585,837. The business has a 50-day moving average price of $246.00 and a two-hundred day moving average price of $144.37. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 12-month low of $37.40 and a 12-month high of $417.64. The stock has a market cap of $108.89 billion, a PE ratio of 98.32, a P/E/G ratio of 4.17 and a beta of 2.28.

AppLovin (NASDAQ:APP - Get Free Report) last posted 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. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin's revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. On average, sell-side analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the sale, the chief executive officer now owns 3,058,635 shares of the company's stock, valued at approximately $1,090,066,927.65. This represents a 0.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Herald Y. Chen sold 400 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the sale, the chief financial officer now owns 207,649 shares in the company, valued at approximately $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 872,896 shares of company stock valued at $279,773,021. 14.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on APP. Piper Sandler began coverage on shares of AppLovin in a research note on Wednesday, November 20th. They issued an "overweight" rating and a $400.00 price target for the company. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research note on Thursday, November 7th. Stifel Nicolaus upped their target price on AppLovin from $250.00 to $435.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Loop Capital lifted their price target 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. Finally, The Goldman Sachs Group downgraded shares of AppLovin from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $103.00 to $150.00 in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $292.79.

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.