Prospera Financial Services Inc Raises Stock Position in AppLovin Corporation $APP

Prospera Financial Services Inc boosted its stake in shares of AppLovin Corporation (NASDAQ:APPFree Report) by 9.9% in the third quarter, HoldingsChannel.com reports. The fund owned 15,679 shares of the company’s stock after purchasing an additional 1,408 shares during the period. Prospera Financial Services Inc’s holdings in AppLovin were worth $11,266,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Profund Advisors LLC raised its position in shares of AppLovin by 18.7% during the 3rd quarter. Profund Advisors LLC now owns 27,164 shares of the company’s stock worth $19,518,000 after purchasing an additional 4,275 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of AppLovin by 31.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 24,115 shares of the company’s stock worth $17,328,000 after purchasing an additional 5,829 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in shares of AppLovin by 1.6% in the third quarter. Linden Thomas Advisory Services LLC now owns 21,388 shares of the company’s stock valued at $15,368,000 after purchasing an additional 346 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of AppLovin in the third quarter valued at approximately $310,000. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of AppLovin by 2.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 19,558 shares of the company’s stock worth $14,053,000 after acquiring an additional 497 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Key Headlines Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

AppLovin Stock Up 13.2%

Shares of NASDAQ APP opened at $460.38 on Tuesday. 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 business’s 50 day moving average is $616.57 and its two-hundred day moving average is $571.64. AppLovin Corporation has a 52-week low of $200.50 and a 52-week high of $745.61. The firm has a market cap of $155.59 billion, a price-to-earnings ratio of 55.87, a PEG ratio of 1.34 and a beta of 2.49.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 14,867 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $546.93, for a total transaction of $8,131,208.31. Following the sale, the chief technology officer directly owned 35,889 shares in the company, valued at $19,628,770.77. This represents a 29.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dawson Alyssa Harvey sold 150 shares of the firm’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 transaction of $103,998.00. Following the completion of the transaction, the director directly owned 2,829 shares of the company’s stock, valued at $1,961,402.28. This represents a 5.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 187,986 shares of company stock valued at $101,032,761 over the last three months. 13.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on APP shares. Zacks Research raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Weiss Ratings downgraded shares of AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 15th. Scotiabank increased their price target on shares of AppLovin from $575.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $465.00 price objective on shares of AppLovin in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $686.05.

Read Our Latest Report on AppLovin

AppLovin Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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