OneAscent Financial Services LLC Invests $339,000 in AppLovin Co. (NASDAQ:APP)

OneAscent Financial Services LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) during the 3rd quarter, HoldingsChannel reports. The fund bought 2,599 shares of the company’s stock, valued at approximately $339,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of AppLovin by 9,470.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock worth $17,336,000 after purchasing an additional 248,022 shares during the last quarter. WCM Investment Management LLC raised its position in shares of AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of AppLovin by 10.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 26,351 shares of the company’s stock valued at $3,440,000 after buying an additional 2,385 shares during the period. Acadian Asset Management LLC raised its position in shares of AppLovin by 2,081.4% during the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after buying an additional 15,590 shares during the period. Finally, Smithbridge Asset Management Inc. DE purchased a new stake in shares of AppLovin during the 3rd quarter valued at approximately $7,086,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of APP stock opened at $298.00 on Tuesday. 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 firm has a fifty day moving average price of $163.37 and a 200 day moving average price of $110.70. The company has a market cap of $100.01 billion, a P/E ratio of 90.30, a PEG ratio of 3.58 and a beta of 1.86. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $302.55.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company’s revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Sell-side analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Vasily Shikin sold 154,500 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the transaction, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 235,542 shares of company stock worth $32,012,275. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on APP shares. Citigroup lifted their price target on shares of AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a research report on Monday. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and lifted their price target for the company from $103.00 to $150.00 in a research report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Jefferies Financial Group boosted their target price on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and boosted their target price for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. One equities research 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 company’s stock. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $203.13.

AppLovin Company 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.