Thoroughbred Financial Services LLC Has $2.54 Million Position in AppLovin Co. (NASDAQ:APP)

Thoroughbred Financial Services LLC grew its position in AppLovin Co. (NASDAQ:APP) by 36.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,531 shares of the company’s stock after purchasing an additional 8,158 shares during the period. Thoroughbred Financial Services LLC’s holdings in AppLovin were worth $2,540,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. FinTrust Capital Advisors LLC bought a new position in AppLovin during the fourth quarter worth about $32,000. Quest Partners LLC bought a new position in shares of AppLovin during the 2nd quarter valued at about $33,000. Covestor Ltd grew its position in shares of AppLovin by 85.8% in the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in AppLovin during the 2nd quarter worth approximately $37,000. Finally, Atlas Capital Advisors LLC acquired a new stake in AppLovin during the 1st quarter worth approximately $38,000. 41.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on APP. Bank of America upped their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday. Benchmark increased their price objective on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. Wedbush cut their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group raised their price target on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, BTIG Research boosted their price objective on shares of AppLovin from $114.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.78.

Insider Buying and Selling at AppLovin

In other news, CFO Matthew Stumpf sold 60,615 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the sale, the chief financial officer now owns 254,458 shares of the company’s stock, valued at $20,262,490.54. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Matthew Stumpf sold 60,615 shares of AppLovin stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the sale, the chief financial officer now directly owns 254,458 shares in the company, valued at $20,262,490.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eduardo Vivas sold 118,839 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $90.75, for a total value of $10,784,639.25. Following the completion of the sale, the director now owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The disclosure for this sale can be found here. Insiders have sold a total of 775,934 shares of company stock valued at $65,805,022 in the last ninety days. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

Shares of APP opened at $112.58 on Friday. The company’s 50-day moving average is $84.08 and its 200-day moving average is $78.24. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a market capitalization of $37.63 billion, a PE ratio of 67.01, a PEG ratio of 1.41 and a beta of 1.88. AppLovin Co. has a fifty-two week low of $34.45 and a fifty-two week high of $112.88.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business posted $0.22 earnings per share. The business’s revenue for the quarter was up 44.0% compared to the same quarter last year. Equities analysts forecast that AppLovin Co. will post 3.46 EPS for the current year.

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.