Farther Finance Advisors LLC Purchases 1,665 Shares of AppLovin Corporation $APP

Farther Finance Advisors LLC increased its position in AppLovin Corporation (NASDAQ:APP) by 25.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,169 shares of the company’s stock after purchasing an additional 1,665 shares during the quarter. Farther Finance Advisors LLC’s holdings in AppLovin were worth $5,870,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Hilltop National Bank bought a new position in shares of AppLovin in the 2nd quarter valued at about $26,000. LFA Lugano Financial Advisors SA acquired a new position in AppLovin in the second quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in AppLovin in the second quarter valued at approximately $33,000. Heartwood Wealth Advisors LLC bought a new position in AppLovin in the third quarter valued at approximately $33,000. Finally, Hoey Investments Inc. acquired a new position in shares of AppLovin in the 2nd quarter valued at $35,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on APP. UBS Group reaffirmed a “buy” rating and set a $775.00 price objective on shares of AppLovin in a research note on Thursday, December 11th. BTIG Research restated a “buy” rating and set a $771.00 target price on shares of AppLovin in a report on Wednesday, December 17th. Oppenheimer set a $740.00 price target on AppLovin in a research note on Tuesday, October 7th. Phillip Securities upgraded shares of AppLovin to a “moderate buy” rating in a research report on Monday, September 29th. Finally, Deutsche Bank Aktiengesellschaft set a $705.00 price objective on shares of AppLovin and gave the company a “buy” rating in a report on Wednesday, October 22nd. Nineteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $695.90.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 27,143 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $545.38, for a total value of $14,803,249.34. Following the sale, the chief technology officer directly owned 3,323,681 shares in the company, valued at $1,812,669,143.78. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Victoria Valenzuela sold 7,609 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total value of $5,000,102.17. Following the completion of the sale, the insider owned 277,110 shares in the company, valued at $182,097,294.30. The trade was a 2.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 340,336 shares of company stock worth $200,062,623. Company insiders own 13.66% of the company’s stock.

AppLovin Stock Down 0.7%

AppLovin stock opened at $728.45 on Wednesday. The company has a 50 day moving average of $622.73 and a 200-day moving average of $517.13. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The stock has a market capitalization of $246.18 billion, a PE ratio of 88.40, a price-to-earnings-growth ratio of 3.94 and a beta of 2.51.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data 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 net margin of 51.27% and a return on equity of 258.49%. The firm’s quarterly revenue was up 68.2% on a year-over-year basis. During the same period last year, the business posted $1.29 earnings per share. On average, equities research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

AppLovin Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.