M3 Advisory Group LLC Purchases Shares of 663 AppLovin Co. (NASDAQ:APP)

M3 Advisory Group LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, HoldingsChannel reports. The firm acquired 663 shares of the company’s stock, valued at approximately $215,000.

Other large investors also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC acquired a new position in shares of AppLovin during the 3rd quarter worth approximately $27,000. Meeder Asset Management Inc. bought a new stake in AppLovin in the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new stake in AppLovin during the 3rd quarter valued at $29,000. Finally, Fifth Third Bancorp lifted its holdings in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

AppLovin stock opened at $363.10 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $121.85 billion, a PE ratio of 110.03, a P/E/G ratio of 2.96 and a beta of 2.29. AppLovin Co. has a 12-month low of $40.71 and a 12-month high of $417.64. The business’s 50-day moving average price is $337.41 and its two-hundred day moving average price is $198.41.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (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 company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business earned $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on APP shares. Wells Fargo & Company increased their price objective on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Oppenheimer restated an “outperform” rating and set a $480.00 price objective on shares of AppLovin in a research report on Tuesday, December 10th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Macquarie increased their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $355.41.

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.