Capital Advisory Group Advisory Services LLC Invests $213,000 in AppLovin Co. (NASDAQ:APP)

Capital Advisory Group Advisory Services LLC purchased a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 659 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors have also added to or reduced their stakes in APP. Townsquare Capital LLC lifted its holdings in shares of AppLovin by 64.9% during the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after buying an additional 3,126 shares in the last quarter. Second Half Financial Partners LLC acquired a new stake in AppLovin during the third quarter worth approximately $224,000. State Street Corp raised its holdings in AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after acquiring an additional 428,419 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after acquiring an additional 500,407 shares during the period. Finally, Zacks Investment Management grew its holdings in shares of AppLovin by 328.1% during the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock worth $13,854,000 after purchasing an additional 81,331 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Performance

NASDAQ:APP opened at $450.01 on Friday. The stock’s 50-day moving average is $363.77 and its 200-day moving average is $240.83. AppLovin Co. has a 1-year low of $54.50 and a 1-year high of $525.15. 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 stock has a market cap of $151.02 billion, a P/E ratio of 99.12, a price-to-earnings-growth ratio of 3.61 and a beta of 2.30.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Equities research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In related news, Director Herald Y. Chen sold 99,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the sale, the director now directly owns 621,209 shares in the company, valued at $204,688,365.50. This represents a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. The trade was a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 196,302 shares of company stock worth $65,305,354 over the last three months. Company insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on APP shares. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Macquarie increased their price target 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. BTIG Research boosted their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their target price on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $442.18.

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.