National Bank of Canada FI Buys 39 Shares of AppLovin Co. (NASDAQ:APP)

National Bank of Canada FI raised its stake in AppLovin Co. (NASDAQ:APP) by 4.0% in the third quarter, Holdings Channel.com reports. The firm owned 1,003 shares of the company’s stock after acquiring an additional 39 shares during the period. National Bank of Canada FI’s holdings in AppLovin were worth $131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

AppLovin Stock Up 6.0 %

NASDAQ:APP opened at $343.96 on Tuesday. The stock’s fifty day moving average price is $250.08 and its two-hundred day moving average price is $147.07. The company has a market cap of $115.43 billion, a price-to-earnings ratio of 104.23, a P/E/G ratio of 4.17 and a beta of 2.28. AppLovin Co. has a 52-week low of $37.40 and a 52-week high of $417.64. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company earned $0.30 earnings per share. The company’s revenue was up 38.6% on a year-over-year basis. On average, analysts anticipate that AppLovin Co. will post 4.06 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on APP shares. BTIG Research raised their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Bank of America lifted their target price on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Stifel Nicolaus increased their price target on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. lifted their price objective on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $296.40.

Insider Transactions at AppLovin

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This represents a 5.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the sale, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 872,896 shares of company stock worth $279,773,021 in the last quarter. 14.69% of the stock is owned by company insiders.

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.