Range Financial Group LLC Takes $2.24 Million Position in AppLovin Co. (NASDAQ:APP)

Range Financial Group LLC bought a new stake in AppLovin Co. (NASDAQ:APP) in the fourth quarter, HoldingsChannel.com reports. The firm bought 6,909 shares of the company’s stock, valued at approximately $2,237,000. AppLovin comprises 1.0% of Range Financial Group LLC’s holdings, making the stock its 25th largest holding.

A number of other institutional investors also recently modified their holdings of the business. National Bank of Canada FI boosted its position in shares of AppLovin by 4.0% in the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after acquiring an additional 39 shares during the period. Versant Capital Management Inc lifted its position in AppLovin by 19.7% during the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after purchasing an additional 53 shares during the period. Great Valley Advisor Group Inc. grew its stake in AppLovin by 2.2% during the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after buying an additional 60 shares in the last quarter. HM Payson & Co. grew its stake in AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Finally, Aptus Capital Advisors LLC grew its stake in AppLovin by 0.3% during the third 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 in the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other news, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $366.16, for a total transaction of $146,464.00. Following the completion of the sale, the chief financial officer now owns 207,649 shares of the company’s stock, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock valued at $284,773,062 in the last quarter. 14.69% of the stock is currently owned by company insiders.

AppLovin Trading Down 7.0 %

AppLovin stock traded down $24.92 during mid-day trading on Tuesday, hitting $330.01. 6,609,917 shares of the stock were exchanged, compared to its average volume of 4,936,474. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12 month low of $37.95 and a 12 month high of $417.64. The firm’s fifty day simple moving average is $305.81 and its two-hundred day simple moving average is $174.20. The stock has a market capitalization of $110.75 billion, a price-to-earnings ratio of 100.00, a PEG ratio of 4.17 and a beta of 2.29.

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 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 firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the business earned $0.30 EPS. The company’s revenue was up 38.6% compared to the same quarter last year. Analysts forecast that AppLovin Co. will post 4.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Benchmark reiterated a “sell” rating and set a $66.00 price objective on shares of AppLovin in a research note on Thursday, November 7th. Finally, Citigroup increased their price objective on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $310.71.

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.