AppLovin Co. (NASDAQ:APP) is FORA Capital LLC’s Largest Position

FORA Capital LLC lifted its holdings in shares of AppLovin Co. (NASDAQ:APP) by 56.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,380 shares of the company’s stock after purchasing an additional 41,461 shares during the period. AppLovin comprises approximately 1.8% of FORA Capital LLC’s investment portfolio, making the stock its largest holding. FORA Capital LLC’s holdings in AppLovin were worth $15,063,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APP. Great Valley Advisor Group Inc. grew its holdings in AppLovin by 2.2% during the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after purchasing an additional 60 shares during the period. HM Payson & Co. lifted its stake in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Aptus Capital Advisors LLC boosted its holdings in AppLovin by 0.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after buying an additional 104 shares during the period. Ashton Thomas Securities LLC grew its stake in AppLovin by 2.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after buying an additional 121 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in AppLovin by 8.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after acquiring an additional 126 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Price Performance

Shares of NASDAQ APP traded down $7.99 during trading hours on Wednesday, reaching $321.78. 924,672 shares of the stock traded hands, compared to its average volume of 4,451,304. The company has a market capitalization of $107.99 billion, a P/E ratio of 99.93, a price-to-earnings-growth ratio of 3.94 and a beta of 1.86. The company’s 50-day simple moving average is $185.37 and its two-hundred day simple moving average is $119.37. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $344.77.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm posted $0.30 earnings per share. The business’s revenue was up 38.6% compared to the same quarter last year. Equities research analysts forecast that AppLovin Co. will post 4.05 EPS for the current year.

Wall Street Analyst Weigh In

APP has been the subject of a number of analyst reports. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $80.00 to $280.00 in a report on Friday, November 8th. BTIG Research raised their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Wells Fargo & Company raised their price objective on shares of AppLovin from $250.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Finally, Piper Sandler initiated coverage on shares of AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.57.

Insiders Place Their Bets

In related news, CFO Matthew Stumpf sold 21,101 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the completion of the sale, the chief financial officer now directly owns 213,336 shares in the company, valued at $70,970,487.12. This represents a 9.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Vasily Shikin sold 5,500 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $86.04, for a total transaction of $473,220.00. Following the completion of the sale, the chief technology officer now directly owns 4,536,447 shares in the company, valued at approximately $390,315,899.88. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 854,065 shares of company stock valued at $233,072,408 over the last three months. Insiders own 14.69% of the company’s stock.

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.