Quantum Financial Advisors LLC Makes New $307,000 Investment in AppLovin Co. (NASDAQ:APP)

Quantum Financial Advisors LLC acquired a new stake in AppLovin Co. (NASDAQ:APP) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 949 shares of the company’s stock, valued at approximately $307,000.

Several other large investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in AppLovin in the 3rd quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new position in shares of AppLovin in the 3rd quarter valued at approximately $27,000. DT Investment Partners LLC acquired a new position in shares of AppLovin in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin during the third quarter worth approximately $29,000. Finally, HM Payson & Co. lifted its holdings in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on APP shares. Loop Capital boosted their price objective on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, December 16th. BTIG Research boosted their price target on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Bank of America raised their price objective on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Citigroup increased their target price on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Benchmark started coverage on AppLovin in a research note on Friday. They issued a “buy” rating and a $375.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $338.06.

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 over the last ninety days. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Stock Down 0.9 %

Shares of NASDAQ APP opened at $315.68 on Tuesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm’s 50-day moving average is $321.54 and its two-hundred day moving average is $182.80. AppLovin Co. has a 12-month low of $39.43 and a 12-month high of $417.64. The company has a market capitalization of $105.94 billion, a PE ratio of 95.66, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. Equities analysts anticipate that AppLovin Co. will post 4.06 EPS for the current fiscal year.

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.