CreativeOne Wealth LLC Buys New Holdings in AppLovin Co. (NASDAQ:APP)

CreativeOne Wealth LLC purchased a new position in shares of AppLovin Co. (NASDAQ:APP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,956 shares of the company’s stock, valued at approximately $908,000.

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

AppLovin Stock Up 2.5 %

APP stock opened at $336.75 on Friday. The firm has a 50-day moving average price of $197.69 and a 200-day moving average price of $123.96. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $344.77. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $113.01 billion, a P/E ratio of 102.05, a price-to-earnings-growth ratio of 4.05 and a beta of 1.86.

AppLovin (NASDAQ:APP) last announced its quarterly 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. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin’s revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. As a group, equities research analysts anticipate that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, Director Eduardo Vivas sold 30,330 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $330.67, for a total transaction of $10,029,221.10. Following the completion of the sale, the director now owns 90,576 shares of the company’s stock, valued at approximately $29,950,765.92. This represents a 25.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares in the company, valued at $900,711.30. This trade represents a 12.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 884,395 shares of company stock valued at $243,101,629 in the last ninety days. 14.69% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. BTIG Research boosted their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Piper Sandler initiated coverage on AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price for the company. Wedbush restated an “outperform” rating and issued a $270.00 price target (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Finally, UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.57.

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.