FCG Investment Co Has $2.79 Million Stock Holdings in AppLovin Corporation $APP

FCG Investment Co boosted its position in AppLovin Corporation (NASDAQ:APP) by 78.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,886 shares of the company’s stock after acquiring an additional 1,713 shares during the quarter. AppLovin comprises approximately 1.3% of FCG Investment Co’s portfolio, making the stock its 16th largest holding. FCG Investment Co’s holdings in AppLovin were worth $2,792,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in APP. Hilltop National Bank bought a new stake in shares of AppLovin during the second quarter valued at approximately $26,000. LFA Lugano Financial Advisors SA bought a new stake in AppLovin during the 2nd quarter valued at $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in AppLovin during the second quarter worth $33,000. Heartwood Wealth Advisors LLC bought a new position in shares of AppLovin in the third quarter valued at $33,000. Finally, Hoey Investments Inc. bought a new position in shares of AppLovin in the second quarter valued at $35,000. Institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 27,143 shares of AppLovin stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $545.38, for a total value of $14,803,249.34. Following the sale, the chief technology officer owned 3,323,681 shares of the company’s stock, valued at approximately $1,812,669,143.78. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dawson Alyssa Harvey sold 150 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $693.32, for a total transaction of $103,998.00. Following the completion of the transaction, the director owned 2,829 shares in the company, valued at approximately $1,961,402.28. The trade was a 5.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 332,727 shares of company stock valued at $195,062,520. 13.66% of the stock is currently owned by company insiders.

AppLovin Stock Performance

APP stock opened at $694.37 on Friday. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. The firm has a market cap of $234.66 billion, a PE ratio of 84.27, a P/E/G ratio of 3.53 and a beta of 2.51. The business has a 50 day moving average of $614.07 and a 200-day moving average of $509.01. AppLovin Corporation has a 12-month low of $200.50 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.11. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.AppLovin’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same period last year, the company posted $1.29 earnings per share. As a group, sell-side analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on APP. Scotiabank boosted their target price on shares of AppLovin from $575.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. increased their price objective on AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Zacks Research lowered AppLovin from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. BTIG Research reiterated a “buy” rating and set a $771.00 price target on shares of AppLovin in a report on Wednesday. Finally, Royal Bank Of Canada increased their price target on AppLovin from $700.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Nineteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $695.90.

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.