Venture Visionary Partners LLC Acquires 30,189 Shares of AppLovin Co. (NASDAQ:APP)

Venture Visionary Partners LLC lifted its stake in AppLovin Co. (NASDAQ:APP) by 257.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,895 shares of the company’s stock after purchasing an additional 30,189 shares during the quarter. Venture Visionary Partners LLC’s holdings in AppLovin were worth $5,469,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of APP. ORG Wealth Partners LLC purchased a new position in shares of AppLovin during the 3rd quarter worth about $42,000. Quest Partners LLC bought a new stake in AppLovin in the second quarter worth about $33,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of AppLovin during the second quarter valued at approximately $34,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of AppLovin during the second quarter valued at approximately $37,000. Finally, Summit Securities Group LLC purchased a new stake in shares of AppLovin in the second quarter worth approximately $42,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 9.4 %

AppLovin stock traded up $13.63 during trading hours on Monday, reaching $158.85. The stock had a trading volume of 5,747,327 shares, compared to its average volume of 4,186,575. AppLovin Co. has a 52 week low of $34.45 and a 52 week high of $159.81. The company has a market cap of $52.26 billion, a price-to-earnings ratio of 92.93, a PEG ratio of 2.07 and a beta of 1.92. 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 business’s 50 day moving average price is $111.99 and its 200-day moving average price is $90.40.

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

Insiders Place Their Bets

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now owns 10,247 shares in the company, valued at $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Stumpf sold 60,615 shares of AppLovin stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total value of $4,826,772.45. Following the sale, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at $20,262,490.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on APP. Benchmark upped their price objective on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research report on Friday, August 23rd. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and upped their price target for the stock from $103.00 to $150.00 in a report on Monday, October 14th. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Jefferies Financial Group upped their target price 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, Bank of America lifted their price target on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.01.

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.