Wilmington Savings Fund Society FSB Invests $833,000 in AppLovin Co. (NASDAQ:APP)

Wilmington Savings Fund Society FSB purchased a new stake in AppLovin Co. (NASDAQ:APP - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,384 shares of the company's stock, valued at approximately $833,000.

Several other large investors also recently bought and sold shares of APP. Capital Performance Advisors LLP acquired a new stake in AppLovin during the 3rd quarter worth $25,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin in the third quarter valued at about $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin during the third quarter worth about $27,000. Raleigh Capital Management Inc. purchased a new position in shares of AppLovin during the third quarter worth about $29,000. Finally, Quest Partners LLC acquired a new position in AppLovin in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Price Performance

Shares of APP traded up $19.49 during trading hours on Monday, reaching $343.96. 8,302,336 shares of the company traded hands, compared to its average volume of 4,601,208. The stock has a fifty day simple moving average of $246.00 and a 200 day simple moving average of $145.23. AppLovin Co. has a fifty-two week low of $37.40 and a fifty-two week high of $417.64. The stock has a market capitalization of $115.43 billion, a PE ratio of 103.05, a price-to-earnings-growth ratio of 4.17 and a beta of 2.28. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (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 net margin of 26.85% and a return on equity of 122.24%. The company's quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 earnings per share. As a group, research analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Loop Capital lifted their target price on AppLovin from $385.00 to $450.00 and gave the company a "buy" rating in a research note on Monday. Daiwa America raised shares of AppLovin from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 8th. BTIG Research raised their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. UBS Group upgraded AppLovin from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Finally, Macquarie raised their price target on AppLovin from $270.00 to $450.00 and gave the company an "outperform" rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus price target of $296.40.

Insiders Place Their Bets

In other 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 transaction of $17,132,918.64. Following the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at $291,115,402.32. This represents a 5.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 593,588 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the sale, the chief technology officer now owns 3,919,024 shares of the company's stock, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 872,896 shares of company stock valued at $279,773,021 in the last quarter. 14.69% of the stock is currently owned by company insiders.

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.