Captrust Financial Advisors Increases Stake in AppLovin Co. (NASDAQ:APP)

Captrust Financial Advisors has increased its investment in AppLovin Co. (NASDAQ:APP) by 5.6% during the third quarter, according to the latest 13F filing submitted to the Securities and Exchange Commission. The firm now holds 183,211 shares of AppLovin's stock after acquiring an additional 9,791 shares during this period. As of the most recent filing, Captrust's holdings in AppLovin are valued at approximately $23,918,000, which represents about 0.05% of the company.

Other Institutional Investors' Moves

In addition to Captrust, several other institutional investors have made adjustments to their positions in AppLovin. For instance, Capital Performance Advisors LLP entered a new position in AppLovin valued at around $25,000 in the third quarter. Similarly, Meeder Asset Management Inc. acquired shares worth $27,000, and DT Investment Partners LLC also purchased a stake valued at $27,000. Additionally, Raleigh Capital Management Inc. bought a new position valued at $29,000, and HM Payson & Co. raised its stake in AppLovin by 50%, holding 300 shares worth $39,000 after adding 100 more shares last quarter. Currently, institutional investors and hedge funds own about 41.85% of AppLovin's stock.

Insider Trading Activities

In related news, AppLovin's Director Eduardo Vivas sold 30,330 shares of the company on November 26, with the shares sold at an average price of $330.67, totaling approximately $10,029,221. Following this transaction, Vivas owns 90,576 shares valued at about $29,950,765.92, indicating a 25.09% decrease in his ownership. The sale was publicly disclosed through a legal filing with the Securities and Exchange Commission. Additionally, Chief Technology Officer Vasily Shikin sold 154,500 shares on September 6 for about $12,999,630. After this sale, he possesses 4,530,455 shares valued at approximately $381,192,483.70, reflecting a 3.30% decline in his ownership. In the past quarter, insiders have sold 884,395 shares worth $243,101,629, and they currently hold 14.69% of the company's stock.

AppLovin's Stock Performance Summary

The shares of AppLovin opened at $336.75 on the last trading day. The company has exhibited a current ratio and quick ratio of 2.41, with a debt-to-equity ratio standing at 3.70. AppLovin Corporation boasts a market capitalization of $113.01 billion, a price-to-earnings ratio of 102.05, and a price-to-earnings-growth ratio of 4.05, with a beta of 1.86. The company's stock has seen a low of $35.79 and a high of $344.77 over the past twelve months, and it currently has a 50-day simple moving average of $197.69 and a 200-day simple moving average of $123.96.

Recent Earnings Performance

On November 6, AppLovin reported its earnings results for the most recent quarter, posting earnings per share of $1.25, which surpassed analysts' estimates of $0.92 by $0.33. The company achieved a net margin of 26.85% and a return on equity of 122.24%. Its revenue for the quarter reached $1.20 billion, exceeding the anticipated $1.13 billion forecasted by analysts. Compared to the same period last year, revenue increased by 38.6%, as the company earned $0.30 per share in the prior year. Analysts expect that AppLovin Co. will declare earnings of $4.06 per share for the current year.

Market Analysts and Price Predictions

Numerous investment analysts have commented on AppLovin's stock. Jefferies Financial Group raised its price target for AppLovin from $270 to $400 while assigning a "buy" rating. On the other hand, Daiwa America upgraded AppLovin from a "hold" to a "strong-buy" rating. Meanwhile, Goldman Sachs Group downgraded their rating for AppLovin from "buy" to "neutral," raising its price target from $103 to $150. Moreover, Daiwa Capital Markets elevated AppLovin to an "outperform" rating and adjusted its price target from $80 to $280. Bank of America has also increased its price rating from $252 to $375, designating a "buy" rating. Currently, one analyst has issued a sell rating, four have rated it as hold, fourteen assigned buy ratings, and one issued a strong buy rating, leading to a consensus rating of "Moderate Buy" with a price target of $265.57.

Overview of AppLovin Corporation

AppLovin Corporation operates a software platform that helps advertisers enhance their marketing and monetization efforts for content in the U.S. and internationally. The company functions through two segments: Software Platform and Apps. Its software solutions include AppDiscovery, which connects advertiser demand to publisher supply through auctions; MAX, an in-app bidding software maximizing the value of advertising inventory; Adjust, a measurement and analytics platform providing marketers with insights to grow their apps; and Wurl, a connected TV platform for streaming video and advertising solutions.

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