Monetta Financial Services Inc. Makes New Investment in AppLovin Corporation $APP

Monetta Financial Services Inc. acquired a new stake in shares of AppLovin Corporation (NASDAQ:APP) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,200 shares of the company’s stock, valued at approximately $1,581,000. AppLovin accounts for 1.1% of Monetta Financial Services Inc.’s portfolio, making the stock its 20th biggest position.

Several other large investors have also made changes to their positions in the company. LFA Lugano Financial Advisors SA acquired a new position in AppLovin in the second quarter valued at about $26,000. Chilton Capital Management LLC bought a new position in AppLovin in the 3rd quarter worth approximately $29,000. Activest Wealth Management raised its position in shares of AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after acquiring an additional 38 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in AppLovin in the second quarter valued at about $33,000. Finally, Heartwood Wealth Advisors LLC bought a new position in AppLovin during the third quarter worth about $33,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

AppLovin stock opened at $380.62 on Tuesday. The company has a market capitalization of $128.63 billion, a P/E ratio of 39.04, a PEG ratio of 0.86 and a beta of 2.49. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin Corporation has a twelve month low of $200.50 and a twelve month high of $745.61. The stock’s 50 day moving average is $560.57 and its 200 day moving average is $573.34.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the company posted $1.73 earnings per share. The firm’s quarterly revenue was up 66.0% on a year-over-year basis. On average, equities research analysts predict that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on APP shares. Wells Fargo & Company cut their price target on shares of AppLovin from $735.00 to $543.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Morgan Stanley set a $720.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. Citigroup reduced their target price on AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, UBS Group set a $740.00 price target on AppLovin in a report on Thursday, February 12th. Twenty-one analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $651.77.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 150 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $693.32, for a total value of $103,998.00. Following the completion of the transaction, the director directly owned 2,829 shares in the company, valued at $1,961,402.28. This represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 7,609 shares of AppLovin stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the transaction, the insider owned 277,110 shares in the company, valued at approximately $182,097,294.30. This trade represents a 2.67% decrease in their position. The SEC filing for this sale provides additional information. 13.66% of the stock is currently owned by company insiders.

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.