Prospera Financial Services Inc Invests $294,000 in AppLovin Co. (NASDAQ:APP)

Prospera Financial Services Inc acquired a new position in shares of AppLovin Co. (NASDAQ:APP) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,254 shares of the company’s stock, valued at approximately $294,000.

A number of other hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the 3rd quarter worth approximately $25,000. DT Investment Partners LLC acquired a new stake in AppLovin in the 3rd quarter valued at $27,000. Meeder Asset Management Inc. acquired a new position in AppLovin during the third quarter worth $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin in the third quarter valued at $29,000. Finally, Quest Partners LLC acquired a new position in shares of AppLovin during the second quarter valued at about $33,000. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the topic of a number of analyst reports. Jefferies Financial Group upped their target price on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the company from $80.00 to $280.00 in a report on Friday, November 8th. Wedbush reiterated an “outperform” rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and increased their price target for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. Finally, Piper Sandler assumed coverage on AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $222.96.

Insider Activity at AppLovin

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. This represents a 12.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction that occurred on 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 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 position. The disclosure for this sale can be found here. Insiders have sold 854,065 shares of company stock valued at $233,072,408 over the last three months. 14.69% of the stock is owned by corporate insiders.

AppLovin Stock Up 4.7 %

APP opened at $333.31 on Monday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a one year low of $35.79 and a one year high of $342.51. The firm has a market capitalization of $111.86 billion, a P/E ratio of 101.00, a price-to-earnings-growth ratio of 3.92 and a beta of 1.86. The company has a fifty day moving average price of $181.30 and a 200-day moving average price of $117.71.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. Equities research analysts expect that AppLovin Co. will post 4.05 earnings per share for the current fiscal year.

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.