Second Half Financial Partners LLC Buys New Stake in AppLovin Co. (NASDAQ:APP)

Second Half Financial Partners LLC purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,717 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of AppLovin during the 3rd quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the third quarter valued at about $27,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin during the third quarter worth about $27,000. Raleigh Capital Management Inc. acquired a new position in shares of AppLovin during the 3rd quarter worth about $29,000. Finally, HM Payson & Co. lifted its stake in 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 buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

NASDAQ:APP opened at $293.35 on Tuesday. AppLovin Co. has a 52 week low of $35.79 and a 52 week high of $302.55. The stock’s fifty day moving average is $163.37 and its two-hundred day moving average is $110.70. The company has a market capitalization of $98.45 billion, a P/E ratio of 90.30, a P/E/G ratio of 3.58 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.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data 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 analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s revenue was up 38.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. Equities analysts expect that AppLovin Co. will post 4.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on APP shares. Jefferies Financial Group increased their target price on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Bank of America increased their price objective on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Citigroup lifted their target price on shares of AppLovin from $185.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday. Wedbush reiterated an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Finally, 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 report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $203.13.

Insider Transactions at AppLovin

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the sale, the chief marketing officer now owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. The trade was a 3.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 235,542 shares of company stock worth $32,012,275. 14.69% of the stock is currently owned by insiders.

AppLovin 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.