Orion Portfolio Solutions LLC Grows Stock Position in AppLovin Co. (NASDAQ:APP)

Orion Portfolio Solutions LLC grew its holdings in shares of AppLovin Co. (NASDAQ:APP) by 35.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,933 shares of the company’s stock after buying an additional 6,058 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in AppLovin were worth $2,994,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. National Bank of Canada FI boosted its stake in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after buying an additional 39 shares in the last quarter. Great Valley Advisor Group Inc. raised its stake in shares of AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after acquiring an additional 60 shares in the last quarter. HM Payson & Co. raised its stake in shares of 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 acquiring an additional 100 shares in the last quarter. Aptus Capital Advisors LLC grew its holdings in AppLovin by 0.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after buying an additional 104 shares during the last quarter. Finally, Ashton Thomas Securities LLC grew its holdings in AppLovin by 2.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after buying an additional 121 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Down 6.3 %

APP opened at $321.06 on Wednesday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a fifty-two week low of $35.79 and a fifty-two week high of $417.64. The firm’s fifty day moving average is $234.35 and its 200 day moving average is $140.02. 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 announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. On average, sell-side analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on APP shares. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. BTIG Research upped 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. Macquarie increased their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their price target on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Insider Buying and Selling at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew Stumpf sold 21,101 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the sale, the chief financial officer now directly owns 213,336 shares of the company’s stock, valued at $70,970,487.12. This represents a 9.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 772,220 shares of company stock worth $246,555,212 over the last three months. 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.