Q3 Asset Management Invests $598,000 in AppLovin Corporation $APP

Q3 Asset Management acquired a new position in shares of AppLovin Corporation (NASDAQ:APP) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 832 shares of the company’s stock, valued at approximately $598,000.

Several other institutional investors have also recently bought and sold shares of APP. Optas LLC boosted its holdings in AppLovin by 2.5% during the third quarter. Optas LLC now owns 877 shares of the company’s stock valued at $630,000 after acquiring an additional 21 shares during the period. Bartlett & CO. Wealth Management LLC grew its holdings in AppLovin by 19.6% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 134 shares of the company’s stock valued at $96,000 after buying an additional 22 shares during the last quarter. Avestar Capital LLC increased its position in AppLovin by 2.1% in the 2nd quarter. Avestar Capital LLC now owns 1,117 shares of the company’s stock worth $391,000 after buying an additional 23 shares during the period. Proffitt & Goodson Inc. lifted its holdings in shares of AppLovin by 65.7% during the third quarter. Proffitt & Goodson Inc. now owns 58 shares of the company’s stock worth $42,000 after buying an additional 23 shares during the last quarter. Finally, Bogart Wealth LLC boosted its position in shares of AppLovin by 100.0% in the third quarter. Bogart Wealth LLC now owns 48 shares of the company’s stock valued at $34,000 after acquiring an additional 24 shares during the period. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 150,000 shares of AppLovin stock in a transaction on Monday, November 10th. The shares were sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the completion of the sale, the director owned 7,133,292 shares of the company’s stock, valued at approximately $4,643,131,095.72. The trade was a 2.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 30,888 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $520.29, for a total transaction of $16,070,717.52. Following the sale, the chief executive officer owned 2,553,161 shares of the company’s stock, valued at $1,328,384,136.69. The trade was a 1.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 340,336 shares of company stock valued at $200,062,623. 13.66% of the stock is currently owned by insiders.

AppLovin Trading Up 1.5%

APP stock opened at $668.63 on Wednesday. The business has a fifty day moving average of $640.73 and a 200-day moving average of $549.90. The company has a market cap of $225.96 billion, a P/E ratio of 81.14, a PEG ratio of 2.18 and a beta of 2.50. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The company’s revenue was up 68.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.29 EPS. As a group, equities research analysts expect that AppLovin Corporation will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

APP has been the subject of several research analyst reports. Scotiabank upped their target price on shares of AppLovin from $575.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. boosted their price target on AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Oppenheimer set a $740.00 target price on AppLovin in a research note on Tuesday, October 7th. Evercore ISI began coverage on AppLovin in a research report on Wednesday. They issued an “outperform” rating and a $835.00 price target on the stock. Finally, Bank of America raised their price objective on shares of AppLovin from $580.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $706.76.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.