Pathstone Holdings LLC Purchases 1,042 Shares of AppLovin Co. (NASDAQ:APP)

Pathstone Holdings LLC boosted its holdings in AppLovin Co. (NASDAQ:APP) by 5.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 19,866 shares of the company’s stock after buying an additional 1,042 shares during the period. Pathstone Holdings LLC’s holdings in AppLovin were worth $2,594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin during the third quarter worth about $25,000. DT Investment Partners LLC purchased a new stake in AppLovin during the 3rd quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new stake in shares of AppLovin during the third quarter valued at approximately $29,000. Quest Partners LLC purchased a new position in shares of AppLovin in the second quarter worth $33,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in AppLovin in the 2nd quarter worth $34,000. 41.85% of the stock is owned by institutional investors.

AppLovin Price Performance

APP opened at $319.59 on Tuesday. The business has a fifty day moving average of $185.37 and a 200 day moving average of $119.37. The stock has a market cap of $107.25 billion, a P/E ratio of 96.85, a PEG ratio of 4.11 and a beta of 1.86. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $344.77.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s revenue was up 38.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 earnings per share. As a group, sell-side analysts anticipate that AppLovin Co. will post 4.05 EPS for the current year.

Insiders Place Their Bets

In other AppLovin news, CFO Matthew Stumpf sold 21,101 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $332.67, for a total value of $7,019,669.67. Following the completion of the sale, the chief financial officer now directly owns 213,336 shares in the company, valued at approximately $70,970,487.12. This represents a 9.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 154,500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the transaction, the chief technology officer now owns 4,530,455 shares in the company, valued at approximately $381,192,483.70. This represents 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 worth $233,072,408 in the last three months. Corporate insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and increased their target price for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Wells Fargo & Company boosted their price target on shares of AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Loop Capital upped their price target on shares of AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Wedbush reissued an “outperform” rating and issued a $270.00 price objective (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $249.34.

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.