AppLovin Co. (NASDAQ:APP) Shares Sold by GSG Advisors LLC

GSG Advisors LLC lessened its stake in shares of AppLovin Co. (NASDAQ:APP) by 49.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,190 shares of the company’s stock after selling 9,920 shares during the quarter. GSG Advisors LLC’s holdings in AppLovin were worth $1,331,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of APP. Capital Performance Advisors LLP acquired a new position in shares of AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC acquired a new position in AppLovin in the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new position in shares of AppLovin during the 3rd quarter worth $29,000. HM Payson & Co. boosted its holdings in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of AppLovin in the third quarter valued at $42,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Bank of America raised their price target on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Macquarie boosted their target price on shares of AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $80.00 to $280.00 in a report on Friday. Finally, JPMorgan Chase & Co. upped their price objective on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $182.31.

Insider Activity

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

AppLovin Price Performance

APP opened at $290.01 on Friday. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $292.86. 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 market cap of $96.94 billion, a price-to-earnings ratio of 87.88, a PEG ratio of 2.43 and a beta of 1.86. The company has a fifty day simple moving average of $139.27 and a 200 day simple moving average of $101.29.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.06% and a net margin of 26.85%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The company’s revenue was up 38.6% compared to the same quarter last year. Equities research analysts expect that AppLovin Co. will post 3.47 EPS for the current fiscal year.

AppLovin Company 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.