Farther Finance Advisors LLC Has $133,000 Holdings in AppLovin Co. (NASDAQ:APP)

Farther Finance Advisors LLC increased its stake in AppLovin Co. (NASDAQ:APP) by 150.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,020 shares of the company’s stock after purchasing an additional 613 shares during the period. Farther Finance Advisors LLC’s holdings in AppLovin were worth $133,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DT Investment Partners LLC bought a new stake in AppLovin during the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. bought a new stake in AppLovin during the 3rd quarter worth about $29,000. HM Payson & Co. lifted its position in AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in AppLovin during the 3rd quarter worth about $42,000. Finally, Quest Partners LLC bought a new stake in AppLovin during the 2nd quarter worth about $33,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APP has been the topic of a number of research analyst reports. Jefferies Financial Group upped their target price on shares of AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and upped their target price for the company from $103.00 to $150.00 in a report on Monday, October 14th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and upped their target price for the company from $80.00 to $280.00 in a report on Friday. Wedbush reaffirmed an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $194.31.

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the transaction, the insider now owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin 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 of the company’s stock, valued at $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 477,172 shares of company stock worth $40,723,512. Corporate insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $286.43 on Tuesday. The company’s 50 day moving average price is $143.14 and its two-hundred day moving average price is $103.05. AppLovin Co. has a 12-month low of $35.79 and a 12-month high of $292.86. The firm has a market cap of $95.74 billion, a PE ratio of 86.80, a PEG ratio of 4.18 and a beta of 1.86. The company has a quick ratio of 2.28, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s revenue was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 EPS. Equities research analysts predict that AppLovin Co. will post 3.98 earnings per share for the current year.

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.