Colonial River Investments LLC Purchases New Shares in AppLovin Co. (NASDAQ:APP)

Colonial River Investments LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,392 shares of the company’s stock, valued at approximately $573,000.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC purchased a new position in AppLovin in the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin in the 3rd quarter valued at $29,000. Quest Partners LLC purchased a new position in AppLovin during the 2nd quarter worth $33,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of AppLovin in the 2nd quarter worth $34,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 17.6 %

APP stock opened at $290.01 on Friday. 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 company’s 50 day simple moving average is $139.27 and its 200-day simple moving average is $101.29. AppLovin Co. has a 12 month low of $35.79 and a 12 month high of $292.86. The firm has a market capitalization of $96.94 billion, a PE ratio of 87.88, a P/E/G ratio of 2.43 and a beta of 1.86.

AppLovin (NASDAQ:APP) last announced its 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. AppLovin had a return on equity of 122.06% and a net margin of 26.85%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. Equities analysts expect that AppLovin Co. will post 3.47 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In related news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the transaction, the director now owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction 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 sale, the director now owns 10,247 shares in the company, valued at $900,711.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eduardo Vivas sold 229,200 shares of AppLovin stock in a transaction on Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the sale, the director now directly owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. This represents 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 over the last quarter. Insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on APP shares. Loop Capital started coverage on shares of AppLovin in a research note on Tuesday, October 22nd. They set a “buy” rating and a $181.00 price target on the stock. Wells Fargo & Company initiated coverage on AppLovin in a research report on Monday, October 28th. They set an “overweight” rating and a $200.00 target price on the stock. Stifel Nicolaus increased their target price on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday. Jefferies Financial Group lifted their price target on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Citigroup increased their price objective on AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. One 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 given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $182.31.

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.