AppLovin Corporation $APP Stock Position Boosted by Trek Financial LLC

Trek Financial LLC grew its stake in shares of AppLovin Corporation (NASDAQ:APP) by 851.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,630 shares of the company’s stock after buying an additional 8,618 shares during the quarter. Trek Financial LLC’s holdings in AppLovin were worth $6,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc boosted its stake in AppLovin by 2.8% during the 3rd quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock valued at $504,000 after purchasing an additional 19 shares in the last quarter. Optas LLC grew its stake in shares of AppLovin by 2.5% in the 3rd quarter. Optas LLC now owns 877 shares of the company’s stock worth $630,000 after purchasing an additional 21 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its position in AppLovin by 19.6% during the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 134 shares of the company’s stock worth $96,000 after acquiring an additional 22 shares during the period. Avestar Capital LLC grew its stake in AppLovin by 2.1% during the 2nd quarter. Avestar Capital LLC now owns 1,117 shares of the company’s stock valued at $391,000 after acquiring an additional 23 shares in the last quarter. Finally, Proffitt & Goodson Inc. lifted its position in shares of AppLovin by 65.7% in the third quarter. Proffitt & Goodson Inc. now owns 58 shares of the company’s stock worth $42,000 after purchasing an additional 23 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on APP. Wells Fargo & Company raised their price target on AppLovin from $721.00 to $735.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Oppenheimer set a $740.00 target price on shares of AppLovin in a research report on Tuesday, October 7th. Morgan Stanley raised their price target on shares of AppLovin from $750.00 to $800.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Citigroup decreased their price objective on shares of AppLovin from $850.00 to $820.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Finally, Phillip Securities upgraded AppLovin to a “moderate buy” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $706.76.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 27,143 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the sale, the chief technology officer directly owned 3,323,681 shares in the company, valued at $1,812,669,143.78. This represents a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 4,069 shares of AppLovin stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $497.50, for a total value of $2,024,327.50. Following the completion of the transaction, the chief executive officer directly owned 2,998,948 shares of the company’s stock, valued at $1,491,976,630. This represents a 0.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 340,336 shares of company stock valued at $200,062,623. 13.66% of the stock is currently owned by insiders.

AppLovin Stock Performance

Shares of NASDAQ APP traded up $2.47 during mid-day trading on Friday, hitting $524.41. The company had a trading volume of 4,824,422 shares, compared to its average volume of 4,207,513. The firm has a market cap of $177.22 billion, a P/E ratio of 63.64, a PEG ratio of 1.72 and a beta of 2.50. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61. The business’s 50-day simple moving average is $634.79 and its 200-day simple moving average is $559.34.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the business earned $1.29 earnings per share. AppLovin’s quarterly revenue was up 68.2% compared to the same quarter last year. As a group, analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.