AppLovin Co. (NASDAQ:APP) Shares Bought by Stifel Financial Corp

Stifel Financial Corp boosted its stake in shares of AppLovin Co. (NASDAQ:APP) by 5.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 117,501 shares of the company’s stock after purchasing an additional 6,188 shares during the period. Stifel Financial Corp’s holdings in AppLovin were worth $15,340,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC acquired a new position in shares of AppLovin in the 3rd quarter valued at $27,000. Meeder Asset Management Inc. purchased a new stake in AppLovin during the third quarter worth $27,000. Raleigh Capital Management Inc. acquired a new stake in AppLovin during the third quarter valued at $29,000. Finally, Quest Partners LLC purchased a new position in AppLovin in the second quarter valued at $33,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Down 6.3 %

Shares of NASDAQ:APP opened at $321.06 on Wednesday. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $417.64. The firm’s 50 day moving average price is $234.35 and its 200 day moving average price is $140.02. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $107.75 billion, a price-to-earnings ratio of 97.29, a price-to-earnings-growth ratio of 4.95 and a beta of 2.27.

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

Analyst Upgrades and Downgrades

APP has been the subject of several recent analyst reports. BTIG Research lifted their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Wedbush restated an “outperform” rating and issued a $270.00 price objective (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Piper Sandler started coverage on AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price on the stock. Bank of America upped their price objective on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Jefferies Financial Group lifted their target price on shares of AppLovin from $270.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $292.79.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the sale, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 772,220 shares of company stock valued at $246,555,212. 14.69% of the stock is owned by corporate 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.