Atria Investments Inc Purchases New Holdings in AppLovin Co. (NASDAQ:APP)

Atria Investments Inc purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,399 shares of the company’s stock, valued at approximately $574,000.

A number of other institutional investors and hedge funds also recently modified their holdings of APP. Capital Performance Advisors LLP purchased a new stake in AppLovin in the third quarter worth $25,000. DT Investment Partners LLC bought a new position in shares of AppLovin in the third quarter worth $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin in the third quarter worth $29,000. HM Payson & Co. boosted its holdings in shares of AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in shares of AppLovin in the third quarter worth $42,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 235,542 shares of company stock worth $32,012,275 in the last 90 days. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Up 7.8 %

APP opened at $321.19 on Wednesday. The company has a market cap of $107.79 billion, a P/E ratio of 97.33, a P/E/G ratio of 3.58 and a beta of 1.86. The business’s 50-day moving average price is $168.07 and its 200-day moving average price is $112.43. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $323.59.

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

Wall Street Analysts Forecast Growth

APP has been the subject of a number of analyst reports. Stifel Nicolaus raised their price target on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. BTIG Research raised their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Oppenheimer lifted their price objective on AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $280.00 in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $203.13.

About AppLovin

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.