Great Valley Advisor Group Inc. Has $370,000 Holdings in AppLovin Co. (NASDAQ:APP)

Great Valley Advisor Group Inc. grew its position in AppLovin Co. (NASDAQ:APP) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,837 shares of the company’s stock after purchasing an additional 60 shares during the period. Great Valley Advisor Group Inc.’s holdings in AppLovin were worth $370,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of AppLovin by 122.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 536,937 shares of the company’s stock valued at $37,168,000 after acquiring an additional 295,251 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of AppLovin during the 1st quarter valued at about $474,000. California State Teachers Retirement System increased its holdings in shares of AppLovin by 47.7% during the 1st quarter. California State Teachers Retirement System now owns 241,197 shares of the company’s stock valued at $16,696,000 after acquiring an additional 77,914 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of AppLovin during the 1st quarter valued at about $236,000. Finally, Comerica Bank increased its holdings in shares of AppLovin by 2.7% during the 1st quarter. Comerica Bank now owns 175,883 shares of the company’s stock valued at $12,175,000 after acquiring an additional 4,690 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Wells Fargo & Company increased their target price on AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Wedbush restated an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Finally, Piper Sandler began coverage on AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $265.57.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 154,500 shares of AppLovin stock in a transaction 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 transaction, the chief technology officer now owns 4,530,455 shares in the company, valued at approximately $381,192,483.70. The trade was a 3.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig Scott Billings sold 18,000 shares of AppLovin stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the transaction, the director now owns 2,987 shares of the company’s stock, valued at approximately $952,673.78. The trade was a 85.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 854,065 shares of company stock valued at $233,072,408 in the last 90 days. 14.69% of the stock is owned by corporate insiders.

AppLovin Price Performance

Shares of APP stock opened at $328.56 on Thursday. The stock’s fifty day simple moving average is $189.49 and its 200 day simple moving average is $121.08. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market cap of $110.26 billion, a price-to-earnings ratio of 99.56, a P/E/G ratio of 3.94 and a beta of 1.86. AppLovin Co. has a one year low of $35.79 and a one year high of $344.77.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate 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%. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 EPS. On average, 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.