Oppenheimer & Co. Inc. Sells 1,060 Shares of AppLovin Co. (NASDAQ:APP)

Oppenheimer & Co. Inc. decreased its position in AppLovin Co. (NASDAQ:APP) by 4.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,055 shares of the company’s stock after selling 1,060 shares during the period. Oppenheimer & Co. Inc.’s holdings in AppLovin were worth $3,271,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC grew its position in shares of AppLovin by 33.5% during the 1st quarter. SG Americas Securities LLC now owns 4,100 shares of the company’s stock worth $284,000 after buying an additional 1,028 shares in the last quarter. QRG Capital Management Inc. increased its position in AppLovin by 9.7% during the 1st quarter. QRG Capital Management Inc. now owns 7,988 shares of the company’s stock valued at $553,000 after purchasing an additional 705 shares during the period. US Bancorp DE raised its holdings in shares of AppLovin by 45.1% in the 1st quarter. US Bancorp DE now owns 11,172 shares of the company’s stock valued at $773,000 after purchasing an additional 3,472 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in shares of AppLovin in the 1st quarter valued at about $258,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of AppLovin in the 1st quarter worth approximately $343,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Performance

Shares of APP stock opened at $291.09 on Friday. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $302.55. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $97.30 billion, a PE ratio of 88.21, a price-to-earnings-growth ratio of 3.49 and a beta of 1.86. The business has a 50-day simple moving average of $159.14 and a 200-day simple moving average of $108.57.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. On average, equities analysts expect that AppLovin Co. will post 4.06 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. BTIG Research boosted their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Wedbush reissued an “outperform” rating and issued a $270.00 price target (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Loop Capital raised their price objective on AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Benchmark reissued a “sell” rating and set a $66.00 price target on shares of AppLovin in a research report on Thursday, November 7th. Finally, Macquarie raised their price target on shares of AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $194.31.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the transaction, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. This represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 154,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the sale, the chief technology officer now directly owns 4,530,455 shares in the company, valued at approximately $381,192,483.70. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 235,542 shares of company stock worth $32,012,275. 14.69% of the stock is owned by company insiders.

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.