Captrust Financial Advisors Increases Stock Position in AppLovin Co. (NASDAQ:APP)

Captrust Financial Advisors lifted its position in shares of AppLovin Co. (NASDAQ:APP) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 183,211 shares of the company’s stock after buying an additional 9,791 shares during the period. Captrust Financial Advisors owned approximately 0.05% of AppLovin worth $23,918,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in AppLovin during the third quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new position in shares of AppLovin in the 3rd quarter valued at $27,000. DT Investment Partners LLC acquired a new position in shares of AppLovin during the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new stake in AppLovin during the 3rd quarter worth $29,000. Finally, HM Payson & Co. increased its holdings in AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Eduardo Vivas sold 30,330 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $330.67, for a total transaction of $10,029,221.10. Following the completion of the transaction, the director now owns 90,576 shares in the company, valued at approximately $29,950,765.92. This represents a 25.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 154,500 shares of AppLovin stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 884,395 shares of company stock valued at $243,101,629 over the last quarter. Insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $336.75 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market capitalization of $113.01 billion, a price-to-earnings ratio of 102.05, a price-to-earnings-growth ratio of 4.05 and a beta of 1.86. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $344.77. The business has a 50 day simple moving average of $197.69 and a 200-day simple moving average of $123.96.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company earned $0.30 earnings per share. The firm’s revenue was up 38.6% compared to the same quarter last year. As a group, equities research analysts expect that AppLovin Co. will post 4.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on APP. Jefferies Financial Group boosted their price objective on AppLovin from $270.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and increased their price objective for the company from $103.00 to $150.00 in a research report on Monday, October 14th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Finally, Bank of America raised their price target on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.57.

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.