Caprock Group LLC Increases Stock Holdings in AppLovin Co. (NASDAQ:APP)

Caprock Group LLC raised its stake in shares of AppLovin Co. (NASDAQ:APP) by 107.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,646 shares of the company’s stock after purchasing an additional 15,340 shares during the quarter. Caprock Group LLC’s holdings in AppLovin were worth $3,870,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in APP. Capital Performance Advisors LLP bought a new stake in shares of AppLovin during the third quarter valued at approximately $25,000. DT Investment Partners LLC purchased a new position in AppLovin during the third quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin during the third quarter valued at $29,000. Quest Partners LLC bought a new stake in shares of AppLovin during the 2nd quarter valued at $33,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of AppLovin in the 2nd quarter worth about $34,000. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

APP has been the topic of several research reports. Stifel Nicolaus boosted their price objective on shares of AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Oppenheimer boosted their price target on AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Bank of America boosted their target price on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.13.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the sale, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at approximately $381,192,483.70. The trade was a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 14,166 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the transaction, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 235,542 shares of company stock valued at $32,012,275 in the last quarter. 14.69% of the stock is currently owned by insiders.

AppLovin Trading Up 7.8 %

Shares of APP stock opened at $321.19 on Wednesday. The stock has a market capitalization of $107.79 billion, a P/E ratio of 97.33, a P/E/G ratio of 3.58 and a beta of 1.86. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm’s 50 day moving average is $168.07 and its 200 day moving average is $112.43. AppLovin Co. has a 12-month low of $35.79 and a 12-month high of $323.59.

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

AppLovin Company 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.