Paragon Advisors LLC Purchases Shares of 3,875 AppLovin Corporation $APP

Paragon Advisors LLC acquired a new position in shares of AppLovin Corporation (NASDAQ:APP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,875 shares of the company’s stock, valued at approximately $2,784,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Hilltop National Bank bought a new position in AppLovin in the second quarter worth $26,000. LFA Lugano Financial Advisors SA acquired a new position in shares of AppLovin in the 2nd quarter valued at $26,000. Chilton Capital Management LLC bought a new position in shares of AppLovin during the 3rd quarter worth about $29,000. Activest Wealth Management boosted its position in shares of AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after acquiring an additional 38 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of AppLovin during the 2nd quarter valued at about $33,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Trading Down 0.2%

APP stock opened at $542.36 on Thursday. AppLovin Corporation has a fifty-two week low of $200.50 and a fifty-two week high of $745.61. The business has a fifty day moving average price of $635.31 and a 200 day moving average price of $564.95. The company has a debt-to-equity ratio of 2.38, a current ratio of 3.25 and a quick ratio of 3.25. The stock has a market capitalization of $183.29 billion, a price-to-earnings ratio of 65.82, a P/E/G ratio of 1.79 and a beta of 2.50.

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

Insider Buying and Selling

In other news, CTO Vasily Shikin sold 27,143 shares of the business’s stock in a transaction 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 completion of the sale, the chief technology officer owned 3,323,681 shares in the company, valued at $1,812,669,143.78. The trade was a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 30,888 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $520.29, for a total value of $16,070,717.52. Following the transaction, the chief executive officer directly owned 2,553,161 shares in the company, valued at $1,328,384,136.69. This trade represents a 1.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 340,336 shares of company stock worth $200,062,623 in the last quarter. Insiders own 13.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on APP. Citigroup dropped their price target on shares of AppLovin from $850.00 to $820.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. BTIG Research reissued a “buy” rating and issued a $771.00 target price on shares of AppLovin in a report on Wednesday, December 17th. Zacks Research upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Scotiabank upped their price target on AppLovin from $575.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Oppenheimer set a $740.00 price objective on AppLovin in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $706.45.

AppLovin 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.