First Horizon Advisors Inc. Has $304,000 Stock Position in AppLovin Co. (NASDAQ:APP)

First Horizon Advisors Inc. grew its position in shares of AppLovin Co. (NASDAQ:APP) by 29.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,332 shares of the company’s stock after purchasing an additional 533 shares during the quarter. First Horizon Advisors Inc.’s holdings in AppLovin were worth $304,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APP. Capital Performance Advisors LLP bought a new stake in shares of AppLovin during the 3rd quarter valued at about $25,000. DT Investment Partners LLC acquired a new position in AppLovin in the third quarter valued at approximately $27,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin during the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin during the 3rd quarter worth approximately $29,000. Finally, Quest Partners LLC bought a new stake in shares of AppLovin in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

AppLovin stock opened at $333.31 on Friday. The stock has a market cap of $111.86 billion, a P/E ratio of 101.00, a P/E/G ratio of 3.95 and a beta of 1.86. 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 company’s 50 day moving average price is $181.30 and its two-hundred day moving average price is $117.13. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $342.51.

AppLovin (NASDAQ:APP) last issued its quarterly 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 business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. On average, equities analysts predict that AppLovin Co. will post 4.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

APP has been the topic of several research analyst reports. Macquarie increased their target price on shares of AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Loop Capital boosted their target price on AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research report on Monday, November 11th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and increased their price target for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Finally, Piper Sandler initiated coverage on AppLovin in a research report on Wednesday. They set an “overweight” rating and a $400.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $222.96.

Insider Buying and Selling

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $291,115,402.32. This represents a 5.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 154,500 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $84.14, for a total value of $12,999,630.00. Following the transaction, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 854,065 shares of company stock valued at $233,072,408. 14.69% of the stock is owned by insiders.

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.