Caprock Group LLC Purchases 15,340 Shares of AppLovin Co. (NASDAQ:APP)

Caprock Group LLC increased its position in AppLovin Co. (NASDAQ:APP) by 107.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 29,646 shares of the company’s stock after buying an additional 15,340 shares during the period. Caprock Group LLC’s holdings in AppLovin were worth $3,870,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APP. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and raised their target price for the company from $103.00 to $150.00 in a research note on Monday, October 14th. 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. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Finally, Citigroup raised their target price on shares of AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $203.13.

AppLovin Stock Performance

AppLovin stock opened at $321.19 on Wednesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market capitalization of $107.79 billion, a P/E ratio of 97.33, a price-to-earnings-growth ratio of 3.58 and a beta of 1.86. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $323.59. The company’s 50-day moving average is $168.07 and its 200 day moving average is $112.43.

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

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. This represents a 12.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 235,542 shares of company stock worth $32,012,275. 14.69% of the stock is currently 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.