Nisa Investment Advisors LLC Sells 1,418 Shares of AppLovin Co. (NASDAQ:APP)

Nisa Investment Advisors LLC lessened its stake in AppLovin Co. (NASDAQ:APP) by 6.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,649 shares of the company’s stock after selling 1,418 shares during the period. Nisa Investment Advisors LLC’s holdings in AppLovin were worth $2,565,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. DT Investment Partners LLC acquired a new stake in shares of AppLovin during the third quarter worth $27,000. Raleigh Capital Management Inc. acquired a new stake in AppLovin during the 3rd quarter worth about $29,000. Quest Partners LLC bought a new position in shares of AppLovin in the 2nd quarter worth about $33,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of AppLovin in the 2nd quarter valued at about $34,000. Finally, Covestor Ltd boosted its position in shares of AppLovin by 85.8% during the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Down 3.5 %

Shares of NASDAQ APP opened at $163.53 on Friday. The business has a 50-day moving average of $127.73 and a 200-day moving average of $96.51. The firm has a market capitalization of $54.66 billion, a price-to-earnings ratio of 69.59, a PEG ratio of 2.47 and a beta of 1.92. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $174.46.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business’s quarterly revenue was up 44.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. Sell-side analysts expect that AppLovin Co. will post 3.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on APP shares. Jefferies Financial Group lifted their target price on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Stifel Nicolaus lifted their price objective on shares of AppLovin from $100.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wedbush cut their target price on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and lifted their price target for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Finally, Wells Fargo & Company began coverage on shares of AppLovin in a research report on Monday, October 28th. They set an “overweight” rating and a $200.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.78.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the sale, the insider now owns 352,616 shares of the company’s stock, valued at $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin 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 transaction, the director now directly owns 10,247 shares in the company, valued at $900,711.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 610,094 shares of company stock valued at $51,022,478 over the last 90 days. 14.69% of the stock is owned by insiders.

AppLovin 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.