Algert Global LLC Has $5.20 Million Stock Holdings in AppLovin Co. (NASDAQ:APP)

Algert Global LLC grew its position in AppLovin Co. (NASDAQ:APP) by 491.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 39,865 shares of the company’s stock after acquiring an additional 33,129 shares during the period. Algert Global LLC’s holdings in AppLovin were worth $5,204,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in APP. Capital Performance Advisors LLP acquired a new position in AppLovin in the third quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in shares of AppLovin in the 3rd quarter valued at approximately $27,000. DT Investment Partners LLC bought a new stake in AppLovin during the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in AppLovin during the 3rd quarter worth approximately $29,000. Finally, HM Payson & Co. lifted its stake in AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on APP. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Oppenheimer boosted their price target on AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus increased their price objective on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their target price on AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Finally, Loop Capital upped their price target on AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average price target of $222.96.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the transaction, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew Stumpf sold 21,101 shares of the company’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. Over the last 90 days, insiders sold 854,065 shares of company stock valued at $233,072,408. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Stock Up 4.7 %

Shares of APP opened at $333.31 on Monday. The firm’s 50-day simple moving average is $181.30 and its 200 day simple moving average is $117.71. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market cap of $111.86 billion, a P/E ratio of 101.00, a price-to-earnings-growth ratio of 3.92 and a beta of 1.86. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $342.51.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The company 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%. The firm’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 earnings per share. On average, analysts forecast that AppLovin Co. will post 4.05 earnings per share for the current year.

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.