AppLovin Co. (NASDAQ:APP) Shares Acquired by AdvisorNet Financial Inc

AdvisorNet Financial Inc increased its stake in AppLovin Co. (NASDAQ:APP) by 13,000.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 524 shares of the company’s stock after buying an additional 520 shares during the quarter. AdvisorNet Financial Inc’s holdings in AppLovin were worth $139,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Chicago Capital LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at $323,000. Fifth Third Bancorp lifted its holdings in AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after acquiring an additional 62 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in AppLovin in the 4th quarter valued at about $294,000. Waldron Private Wealth LLC acquired a new stake in AppLovin in the 4th quarter valued at about $323,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in AppLovin in the 4th quarter valued at about $2,077,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of AppLovin from $270.00 to $355.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. FBN Securities started coverage on AppLovin in a research report on Friday, March 28th. They set an “outperform” rating and a $385.00 price objective for the company. Benchmark reiterated a “buy” rating and set a $525.00 price objective on shares of AppLovin in a research report on Thursday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Wednesday, May 28th. Finally, Citigroup reaffirmed a “buy” rating on shares of AppLovin in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $433.85.

AppLovin Stock Up 2.3%

Shares of AppLovin stock opened at $401.91 on Tuesday. The stock has a 50-day moving average price of $299.86 and a 200 day moving average price of $329.75. The company has a market cap of $136.00 billion, a P/E ratio of 88.53, a P/E/G ratio of 3.02 and a beta of 2.39. 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 $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue was up 40.3% compared to the same quarter last year. As a group, analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 17,734 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $353.41, for a total transaction of $6,267,372.94. Following the completion of the sale, the chief technology officer now directly owns 70,889 shares of the company’s stock, valued at $25,052,881.49. This trade represents a 20.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 6,599 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $369.35, for a total value of $2,437,340.65. Following the sale, the insider now directly owns 344,256 shares of the company’s stock, valued at $127,150,953.60. This trade represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,115,754 shares of company stock worth $411,165,970 in the last quarter. 14.69% of the stock is currently owned by corporate insiders.

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.