Anderson Financial Strategies LLC Invests $1.80 Million in AppLovin Corporation $APP

Anderson Financial Strategies LLC acquired a new position in AppLovin Corporation (NASDAQ:APP) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,502 shares of the company’s stock, valued at approximately $1,798,000. AppLovin makes up approximately 1.1% of Anderson Financial Strategies LLC’s holdings, making the stock its 19th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in APP. Hilltop National Bank acquired a new position in shares of AppLovin during the second quarter valued at $26,000. LFA Lugano Financial Advisors SA bought a new position in AppLovin in the 2nd quarter valued at about $26,000. Chilton Capital Management LLC acquired a new position in AppLovin during the 3rd quarter valued at about $29,000. Activest Wealth Management boosted its holdings in shares of AppLovin by 760.0% in the third 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 position in shares of AppLovin during the second quarter valued at approximately $33,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

APP stock opened at $461.79 on Wednesday. AppLovin Corporation has a one year low of $200.50 and a one year high of $745.61. The firm has a 50-day moving average of $631.92 and a two-hundred day moving average of $570.29. The firm has a market capitalization of $156.06 billion, a PE ratio of 56.04, a P/E/G ratio of 1.59 and a beta of 2.49. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38.

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

Wall Street Analyst Weigh In

APP has been the topic of a number of research reports. Royal Bank Of Canada boosted their price objective on AppLovin from $700.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Jefferies Financial Group boosted their price target on shares of AppLovin from $800.00 to $860.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Oppenheimer set a $740.00 price objective on shares of AppLovin in a research report on Tuesday, October 7th. Evercore ISI reaffirmed a “buy” rating on shares of AppLovin in a research note on Friday. Finally, Wedbush boosted their target price on shares of AppLovin from $745.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $706.45.

Insiders Place Their Bets

In other AppLovin news, Director Eduardo Vivas sold 150,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the sale, the director directly owned 7,133,292 shares of the company’s stock, valued at $4,643,131,095.72. The trade was a 2.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 30,888 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $520.29, for a total value of $16,070,717.52. Following the completion of the sale, the chief executive officer directly owned 2,553,161 shares of the company’s stock, valued at approximately $1,328,384,136.69. This trade represents a 1.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 340,336 shares of company stock worth $200,062,623. Corporate insiders own 13.66% of the company’s stock.

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.