SOA Wealth Advisors LLC. Makes New $59,000 Investment in AppLovin Co. (NASDAQ:APP)

SOA Wealth Advisors LLC. purchased a new stake in AppLovin Co. (NASDAQ:APP) during the third quarter, Holdings Channel reports. The fund purchased 450 shares of the company’s stock, valued at approximately $59,000.

Several other large investors have also recently made changes to their positions in APP. National Bank of Canada FI lifted its stake in AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after acquiring an additional 39 shares in the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after purchasing an additional 60 shares during the period. HM Payson & Co. grew its holdings in shares of AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Aptus Capital Advisors LLC increased its stake in AppLovin by 0.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after buying an additional 104 shares during the period. Finally, Ashton Thomas Securities LLC lifted its holdings in AppLovin by 2.6% during the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock worth $626,000 after buying an additional 121 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Trading Down 3.5 %

NASDAQ APP opened at $326.21 on Friday. The firm’s fifty day moving average price is $242.30 and its 200 day moving average price is $142.69. The company has a market capitalization of $109.47 billion, a price-to-earnings ratio of 98.85, a price-to-earnings-growth ratio of 4.95 and a beta of 2.27. AppLovin Co. has a 12 month low of $36.33 and a 12 month high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last released its quarterly 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. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the business posted $0.30 EPS. The firm’s quarterly revenue was up 38.6% compared to the same quarter last year. On average, sell-side analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Activity

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Herald Y. Chen sold 99,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the transaction, the director now owns 621,209 shares in the company, valued at $204,688,365.50. This trade represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 872,896 shares of company stock valued at $279,773,021 in the last ninety days. 14.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Loop Capital boosted their price target on shares of AppLovin from $181.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. BTIG Research lifted their price objective on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Wedbush reissued an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $292.79.

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.