ORG Wealth Partners LLC Purchases New Position in AppLovin Co. (NASDAQ:APP)

ORG Wealth Partners LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 324 shares of the company’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Annex Advisory Services LLC increased its holdings in shares of AppLovin by 21.0% during the third quarter. Annex Advisory Services LLC now owns 242,219 shares of the company’s stock worth $31,622,000 after buying an additional 42,073 shares in the last quarter. Burns Matteson Capital Management LLC bought a new stake in AppLovin during the 3rd quarter worth approximately $513,000. Ritholtz Wealth Management increased its holdings in AppLovin by 106.3% during the 3rd quarter. Ritholtz Wealth Management now owns 15,420 shares of the company’s stock valued at $2,013,000 after purchasing an additional 7,946 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in AppLovin by 2,100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,600 shares of the company’s stock valued at $861,000 after purchasing an additional 6,300 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC acquired a new position in AppLovin in the third quarter worth $5,111,000. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Down 1.0 %

NASDAQ:APP opened at $143.81 on Wednesday. The stock’s fifty day simple moving average is $107.75 and its 200-day simple moving average is $88.84. The firm has a market capitalization of $47.32 billion, a P/E ratio of 85.60, a P/E/G ratio of 2.07 and a beta of 1.92. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin Co. has a 12-month low of $34.45 and a 12-month high of $148.48.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company’s revenue for the quarter was up 44.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 EPS. Equities research analysts expect that AppLovin Co. will post 3.46 earnings per share for the current year.

Insider Activity at AppLovin

In other news, CFO Matthew Stumpf sold 60,615 shares of AppLovin stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the transaction, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at $20,262,490.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew Stumpf sold 60,615 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the sale, the chief financial officer now owns 254,458 shares in the company, valued at $20,262,490.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 610,094 shares of company stock worth $51,022,478. 14.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on APP shares. Wedbush lowered their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. BTIG Research boosted their target price on shares of AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Oppenheimer reissued an “outperform” rating and set a $105.00 price target (up from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Jefferies Financial Group raised their price target on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $110.01.

About AppLovin

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.