M3 Advisory Group LLC Takes $215,000 Position in AppLovin Co. (NASDAQ:APP)

M3 Advisory Group LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 663 shares of the company’s stock, valued at approximately $215,000.

Other institutional investors have also recently added to or reduced their stakes in the company. WCM Investment Management LLC increased its holdings in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. FMR LLC grew its position in AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. State Street Corp increased its holdings in AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after purchasing an additional 428,419 shares in the last quarter. Geode Capital Management LLC raised its position in AppLovin by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after purchasing an additional 449,241 shares during the last quarter. Finally, Fred Alger Management LLC boosted its stake in AppLovin by 1.3% in the third quarter. Fred Alger Management LLC now owns 3,539,467 shares of the company’s stock worth $462,077,000 after purchasing an additional 46,854 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Price Performance

Shares of APP stock opened at $363.10 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12-month low of $40.71 and a 12-month high of $417.64. The firm has a fifty day moving average of $337.41 and a 200-day moving average of $198.41. The firm has a market capitalization of $121.85 billion, a price-to-earnings ratio of 110.03, a price-to-earnings-growth ratio of 2.96 and a beta of 2.29.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (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 during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. The company’s revenue was up 38.6% on a year-over-year basis. On average, equities research analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. BTIG Research lifted their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Citigroup boosted their target price on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Piper Sandler began coverage on shares of AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price objective for the company. Finally, Loop Capital increased their price objective on AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average target price of $355.41.

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.