Wealth Alliance Makes New Investment in AppLovin Co. (NASDAQ:APP)

Wealth Alliance bought a new stake in AppLovin Co. (NASDAQ:APP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,385 shares of the company’s stock, valued at approximately $282,000.

A number of other institutional investors have also recently made changes to their positions in APP. FinTrust Capital Advisors LLC acquired a new position in AppLovin during the fourth quarter worth about $32,000. Quest Partners LLC acquired a new position in shares of AppLovin during the 2nd quarter worth approximately $33,000. Covestor Ltd grew its position in shares of AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of AppLovin in the second quarter valued at approximately $37,000. Finally, Atlas Capital Advisors LLC purchased a new position in AppLovin during the first quarter worth approximately $38,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group raised their target price on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $145.00 in a research report on Tuesday. Citigroup boosted their target price on shares of AppLovin from $110.00 to $155.00 and gave the company a “buy” rating in a report on Thursday. Wedbush cut their price target on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, BTIG Research upped their price objective on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.09.

AppLovin Stock Performance

Shares of AppLovin stock opened at $124.00 on Friday. The stock has a market capitalization of $40.80 billion, a price-to-earnings ratio of 73.81, a price-to-earnings-growth ratio of 1.41 and a beta of 1.88. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The business has a 50-day moving average of $86.26 and a 200 day moving average of $79.52. AppLovin Co. has a 12 month low of $34.45 and a 12 month high of $128.19.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $0.22 earnings per share. The business’s revenue for the quarter was up 44.0% compared to the same quarter last year. As a group, sell-side analysts forecast that AppLovin Co. will post 3.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction 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 sale, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other AppLovin news, insider Victoria Valenzuela sold 47,001 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the completion of the transaction, the insider now owns 390,615 shares in the company, valued at approximately $33,225,711.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The disclosure for this sale can be found here. Insiders sold a total of 775,934 shares of company stock worth $65,805,022 over the last 90 days. Corporate insiders own 14.69% of the company’s stock.

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.