Impact Partnership Wealth LLC Invests $661,000 in AppLovin Co. (NASDAQ:APP)

Impact Partnership Wealth LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,062 shares of the company’s stock, valued at approximately $661,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Raleigh Capital Management Inc. acquired a new position in shares of AppLovin in the third quarter worth about $29,000. Quest Partners LLC purchased a new stake in shares of AppLovin in the 2nd quarter valued at approximately $33,000. Oliver Lagore Vanvalin Investment Group acquired a new position in AppLovin in the 2nd quarter worth approximately $34,000. Covestor Ltd grew its position in AppLovin by 85.8% during the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in AppLovin during the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the transaction, the director now owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s 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 directly owns 10,247 shares of the company’s stock, valued at $900,711.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is owned by insiders.

AppLovin Stock Performance

AppLovin stock traded up $1.23 during trading hours on Thursday, reaching $160.63. 191,577 shares of the company were exchanged, compared to its average volume of 4,162,977. AppLovin Co. has a 12 month low of $34.45 and a 12 month high of $165.38. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The stock has a 50-day moving average of $116.75 and a 200 day moving average of $92.07. The firm has a market cap of $52.85 billion, a price-to-earnings ratio of 94.88, a PEG ratio of 2.07 and a beta of 1.92.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. AppLovin’s quarterly revenue was up 44.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 EPS. As a group, research analysts anticipate that AppLovin Co. will post 3.46 earnings per share for the current year.

Wall Street Analyst Weigh In

APP has been the subject of several recent analyst reports. Benchmark raised their target price on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. Wedbush lowered their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Loop Capital began coverage on shares of AppLovin in a research report on Tuesday. They issued a “buy” rating and a $181.00 price target for the company. Macquarie reaffirmed an “outperform” rating and set a $150.00 price objective (up from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. Finally, Stifel Nicolaus increased their target price on shares of AppLovin from $100.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.58.

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.