Prospera Financial Services Inc Raises Position in AppLovin Corporation $APP

Prospera Financial Services Inc grew its stake in AppLovin Corporation (NASDAQ:APPFree Report) by 9.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,679 shares of the company’s stock after purchasing an additional 1,408 shares during the period. Prospera Financial Services Inc’s holdings in AppLovin were worth $11,266,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of APP. Chilton Capital Management LLC bought a new position in shares of AppLovin in the 3rd quarter worth $29,000. Activest Wealth Management raised its holdings in AppLovin by 760.0% in the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after purchasing an additional 38 shares in the last quarter. Heartwood Wealth Advisors LLC purchased a new stake in shares of AppLovin during the third quarter valued at about $33,000. Bogart Wealth LLC boosted its holdings in shares of AppLovin by 100.0% in the 3rd quarter. Bogart Wealth LLC now owns 48 shares of the company’s stock valued at $34,000 after buying an additional 24 shares in the last quarter. Finally, Wolff Wiese Magana LLC purchased a new position in shares of AppLovin in the 3rd quarter worth approximately $39,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $460.38 on Tuesday. The firm has a market capitalization of $155.59 billion, a P/E ratio of 55.87, a PEG ratio of 1.34 and a beta of 2.49. The stock has a 50-day simple moving average of $616.57 and a two-hundred day simple moving average of $571.64. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25. AppLovin Corporation has a fifty-two week low of $200.50 and a fifty-two week high of $745.61.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 30,888 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $520.29, for a total value of $16,070,717.52. Following the sale, the chief executive officer owned 2,553,161 shares in the company, valued at approximately $1,328,384,136.69. This represents a 1.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Victoria Valenzuela sold 7,609 shares of the stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the sale, the insider directly owned 277,110 shares in the company, valued at $182,097,294.30. This trade represents a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 187,986 shares of company stock valued at $101,032,761. 13.66% of the stock is owned by company insiders.

Key AppLovin News

Here are the key news stories impacting AppLovin this week:

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on APP shares. Citigroup reduced their price target on AppLovin from $850.00 to $820.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Scotiabank lifted their target price on shares of AppLovin from $575.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Evercore reissued a “buy” rating on shares of AppLovin in a research report on Friday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Benchmark reissued a “buy” rating on shares of AppLovin in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $686.05.

Check Out Our Latest Stock Report on APP

AppLovin 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.

Further Reading

Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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