Ashton Thomas Securities LLC Has $626,000 Stake in AppLovin Co. (NASDAQ:APP)

Ashton Thomas Securities LLC lifted its position in shares of AppLovin Co. (NASDAQ:APP) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,797 shares of the company’s stock after buying an additional 121 shares during the period. Ashton Thomas Securities LLC’s holdings in AppLovin were worth $626,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of APP. Capital Performance Advisors LLP bought a new position in shares of AppLovin in the 3rd quarter valued at about $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter valued at approximately $29,000. HM Payson & Co. grew its position in shares of 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 acquiring an additional 100 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in AppLovin during the third quarter worth about $42,000. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

APP has been the topic of several research reports. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $280.00 in a report on Friday. Wells Fargo & Company initiated coverage on AppLovin in a research note on Monday, October 28th. They set an “overweight” rating and a $200.00 price objective on the stock. Bank of America boosted their target price on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Stifel Nicolaus upped their price objective on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $194.31.

AppLovin Price Performance

Shares of APP opened at $286.43 on Tuesday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.28 and a current ratio of 2.41. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $292.86. The business’s 50 day moving average price is $143.14 and its two-hundred day moving average price is $103.05. The firm has a market cap of $95.74 billion, a PE ratio of 86.80, a price-to-earnings-growth ratio of 4.18 and a beta of 1.86.

AppLovin (NASDAQ:APP) last posted its quarterly 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 business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. On average, equities analysts anticipate that AppLovin Co. will post 3.98 EPS for the current year.

Insider Activity

In other news, CMO Katie Kihorany Jansen sold 72,306 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $83.71, for a total value of $6,052,735.26. Following the completion of the sale, the chief marketing officer now owns 1,092,090 shares in the company, valued at $91,418,853.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the sale, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Katie Kihorany Jansen sold 72,306 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $83.71, for a total transaction of $6,052,735.26. Following the transaction, the chief marketing officer now directly owns 1,092,090 shares of the company’s stock, valued at $91,418,853.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,172 shares of company stock worth $40,723,512 over the last three months. 14.69% of the stock is currently 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.