Park Avenue Securities LLC Has $13.78 Million Stock Holdings in AppLovin Corporation $APP

Park Avenue Securities LLC decreased its position in AppLovin Corporation (NASDAQ:APP) by 8.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 19,176 shares of the company’s stock after selling 1,714 shares during the period. Park Avenue Securities LLC’s holdings in AppLovin were worth $13,778,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. grew its stake in AppLovin by 170.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 406 shares of the company’s stock valued at $292,000 after acquiring an additional 256 shares during the period. Securian Asset Management Inc. acquired a new stake in shares of AppLovin during the third quarter worth about $9,447,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of AppLovin by 36.9% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 427 shares of the company’s stock valued at $307,000 after purchasing an additional 115 shares in the last quarter. Cerity Partners LLC grew its position in shares of AppLovin by 6.3% in the 3rd quarter. Cerity Partners LLC now owns 22,260 shares of the company’s stock valued at $15,995,000 after purchasing an additional 1,318 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in shares of AppLovin by 62.7% in the 3rd quarter. Louisiana State Employees Retirement System now owns 36,600 shares of the company’s stock valued at $26,299,000 after purchasing an additional 14,100 shares during the period. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on APP. Royal Bank Of Canada lifted their price target on shares of AppLovin from $700.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Wedbush raised their price objective on shares of AppLovin from $745.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Morgan Stanley upped their target price on shares of AppLovin from $480.00 to $750.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Jefferies Financial Group increased their target price on AppLovin from $800.00 to $860.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Scotiabank lifted their price target on AppLovin from $575.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $695.90.

Insiders Place Their Bets

In other news, Director Eduardo Vivas sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $650.91, for a total transaction of $97,636,500.00. Following the sale, the director owned 7,133,292 shares in the company, valued at $4,643,131,095.72. This represents a 2.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 27,143 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $545.38, for a total transaction of $14,803,249.34. Following the completion of the transaction, the chief technology officer directly owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. This represents a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 340,336 shares of company stock valued at $200,062,623 in the last 90 days. 13.66% of the stock is currently owned by insiders.

AppLovin Stock Down 2.5%

Shares of APP stock opened at $617.24 on Wednesday. The firm’s fifty day moving average price is $638.84 and its two-hundred day moving average price is $539.20. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 2.38. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61. The firm has a market capitalization of $208.60 billion, a P/E ratio of 74.91, a PEG ratio of 2.09 and a beta of 2.50.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.11. AppLovin had a return on equity of 258.49% and a net margin of 51.27%.The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the company earned $1.29 EPS. AppLovin’s revenue for the quarter was up 68.2% compared to the same quarter last year. On average, equities analysts predict that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

AppLovin Company 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.