Goldstein Advisors LLC Purchases Shares of 2,489 AppLovin Co. (NASDAQ:APP)

Goldstein Advisors LLC acquired a new stake in AppLovin Co. (NASDAQ:APP) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,489 shares of the company’s stock, valued at approximately $325,000.

A number of other institutional investors and hedge funds have also made changes to their positions in APP. Wellington Management Group LLP increased its position in shares of AppLovin by 1,642.4% in the fourth quarter. Wellington Management Group LLP now owns 182,033 shares of the company’s stock valued at $7,254,000 after buying an additional 171,586 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of AppLovin in the first quarter valued at approximately $146,000. Wealth Enhancement Advisory Services LLC increased its position in shares of AppLovin by 39.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,563 shares of the company’s stock valued at $4,746,000 after buying an additional 19,381 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of AppLovin in the first quarter valued at approximately $233,000. Finally, Oak Thistle LLC purchased a new stake in shares of AppLovin in the first quarter valued at approximately $284,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total value of $5,472,193.76. Following the transaction, the chief marketing officer now owns 1,164,396 shares of the company’s stock, valued at $88,121,489.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the transaction, the chief financial officer now owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $75.68, for a total value of $5,472,193.76. Following the transaction, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 610,094 shares of company stock valued at $51,022,478 in the last quarter. Insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of AppLovin stock opened at $161.63 on Friday. AppLovin Co. has a 52 week low of $34.45 and a 52 week high of $165.38. The business’s fifty day simple moving average is $119.72 and its 200-day simple moving average is $93.23. The firm has a market cap of $53.18 billion, a PE ratio of 96.21, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America boosted their price objective on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Benchmark boosted their price target on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. Loop Capital started coverage on AppLovin in a research report on Tuesday, October 22nd. They set a “buy” rating and a $181.00 price target for the company. Stifel Nicolaus boosted their price target on AppLovin from $100.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Macquarie reiterated an “outperform” rating and set a $150.00 price target (up from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.58.

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.