AppLovin Co. (NASDAQ:APP) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI raised its position in shares of AppLovin Co. (NASDAQ:APP) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,003 shares of the company’s stock after buying an additional 39 shares during the quarter. National Bank of Canada FI’s holdings in AppLovin were worth $131,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of AppLovin during the 3rd quarter valued at about $25,000. DT Investment Partners LLC bought a new position in shares of AppLovin during the third quarter valued at approximately $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin during the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin during the 3rd quarter valued at approximately $29,000. Finally, Quest Partners LLC bought a new position in AppLovin during the 2nd quarter worth $33,000. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the sale, the insider now directly owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the transaction, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 872,896 shares of company stock worth $279,773,021. 14.69% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price 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. The Goldman Sachs Group cut 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 report on Monday, October 14th. Loop Capital increased their price objective on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday. 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $296.40.

AppLovin Trading Up 6.0 %

NASDAQ:APP opened at $343.96 on Tuesday. The company has a market capitalization of $115.43 billion, a P/E ratio of 104.23, a P/E/G ratio of 4.17 and a beta of 2.28. The stock’s 50 day moving average price is $250.08 and its 200 day moving average price is $147.07. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 52 week low of $37.40 and a 52 week high of $417.64.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. On average, research analysts forecast that AppLovin Co. will post 4.06 EPS 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.