Global Trust Asset Management LLC Buys Shares of 1,512 AppLovin Corporation $APP

Global Trust Asset Management LLC purchased a new stake in AppLovin Corporation (NASDAQ:APPFree Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,512 shares of the company’s stock, valued at approximately $1,087,000.

Several other hedge funds have also recently bought and sold shares of APP. Hilltop National Bank acquired a new position in AppLovin during the 2nd quarter worth approximately $26,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of AppLovin in the second quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in AppLovin during the 2nd quarter valued at approximately $33,000. Heartwood Wealth Advisors LLC purchased a new stake in shares of AppLovin in the third quarter valued at about $33,000. Finally, Bogart Wealth LLC raised its position in AppLovin by 100.0% in the third quarter. Bogart Wealth LLC now owns 48 shares of the company’s stock worth $34,000 after acquiring an additional 24 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

More AppLovin News

Here are the key news stories impacting AppLovin this week:

AppLovin Price Performance

Shares of NASDAQ:APP opened at $606.99 on Friday. The firm’s 50 day moving average is $640.45 and its two-hundred day moving average is $550.77. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $205.13 billion, a P/E ratio of 73.66, a PEG ratio of 2.04 and a beta of 2.50. AppLovin Corporation has a 52 week low of $200.50 and a 52 week high of $745.61.

AppLovin (NASDAQ:APPGet Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.11. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The business’s revenue for the quarter was up 68.2% on a year-over-year basis. During the same quarter last year, the business earned $1.29 earnings per share. Analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Phillip Securities raised AppLovin to a “moderate buy” rating in a research report on Monday, September 29th. Citigroup reduced their target price on AppLovin from $850.00 to $820.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Benchmark boosted their price objective on shares of AppLovin from $700.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Morgan Stanley raised their target price on AppLovin from $750.00 to $800.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their target price on AppLovin from $721.00 to $735.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $706.76.

View Our Latest Analysis on APP

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 150 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $693.32, for a total transaction of $103,998.00. Following the transaction, the director directly owned 2,829 shares of the company’s stock, valued at $1,961,402.28. This represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Vasily Shikin sold 27,143 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the sale, the chief technology officer directly owned 3,323,681 shares of the company’s stock, valued at approximately $1,812,669,143.78. This represents a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 340,336 shares of company stock valued at $200,062,623 over the last ninety days. 13.66% of the stock is owned by company insiders.

AppLovin Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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