Circle Wealth Management LLC Acquires Shares of 2,266 AppLovin Co. (NASDAQ:APP)

Circle Wealth Management LLC bought a new position in AppLovin Co. (NASDAQ:APP) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,266 shares of the company’s stock, valued at approximately $296,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in AppLovin in the third quarter valued at about $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the third quarter valued at about $27,000. Meeder Asset Management Inc. acquired a new position in AppLovin during the third quarter worth about $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin in the third quarter valued at about $29,000. Finally, Quest Partners LLC purchased a new stake in shares of AppLovin during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $336.75 on Friday. The business’s 50-day simple moving average is $201.91 and its 200 day simple moving average is $126.00. The company has a market cap of $113.01 billion, a P/E ratio of 102.05, a PEG ratio of 4.05 and a beta of 1.86. 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 one year low of $35.79 and a one year high of $344.77.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. On average, sell-side analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the sale, the chief technology officer now directly owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. The trade was a 3.30 % 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, Director Eduardo Vivas sold 30,330 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $330.67, for a total value of $10,029,221.10. Following the sale, the director now directly owns 90,576 shares in the company, valued at approximately $29,950,765.92. This represents a 25.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 884,395 shares of company stock worth $243,101,629. 14.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on APP shares. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Bank of America raised their price target on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Jefferies Financial Group upped their price objective on AppLovin from $270.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Oppenheimer boosted their target price on shares of AppLovin from $260.00 to $480.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Finally, Benchmark restated a “sell” rating and set a $66.00 price objective on shares of AppLovin in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $265.57.

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.