Patton Albertson Miller Group LLC Buys 920 Shares of AppLovin Corporation $APP

Patton Albertson Miller Group LLC grew its stake in shares of AppLovin Corporation (NASDAQ:APP) by 6.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,851 shares of the company’s stock after buying an additional 920 shares during the quarter. AppLovin makes up 1.3% of Patton Albertson Miller Group LLC’s holdings, making the stock its 20th biggest holding. Patton Albertson Miller Group LLC’s holdings in AppLovin were worth $10,671,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of APP. Versant Capital Management Inc grew its position in AppLovin by 2.8% during the 3rd quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock worth $504,000 after acquiring an additional 19 shares during the last quarter. Optas LLC raised its position in AppLovin by 2.5% in the third quarter. Optas LLC now owns 877 shares of the company’s stock valued at $630,000 after purchasing an additional 21 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its stake in shares of AppLovin by 19.6% during the third quarter. Bartlett & CO. Wealth Management LLC now owns 134 shares of the company’s stock valued at $96,000 after purchasing an additional 22 shares in the last quarter. Avestar Capital LLC grew its holdings in shares of AppLovin by 2.1% during the second quarter. Avestar Capital LLC now owns 1,117 shares of the company’s stock worth $391,000 after purchasing an additional 23 shares during the last quarter. Finally, Proffitt & Goodson Inc. grew its holdings in shares of AppLovin by 65.7% during the third quarter. Proffitt & Goodson Inc. now owns 58 shares of the company’s stock worth $42,000 after purchasing an additional 23 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Trading Up 5.0%

NASDAQ:APP opened at $569.24 on Friday. AppLovin Corporation has a 52 week low of $200.50 and a 52 week high of $745.61. The company has a debt-to-equity ratio of 2.38, a quick ratio of 3.25 and a current ratio of 3.25. The firm’s fifty day moving average is $636.28 and its 200-day moving average is $564.98. The firm has a market cap of $192.37 billion, a P/E ratio of 69.08, a P/E/G ratio of 1.79 and a beta of 2.50.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. AppLovin’s revenue for the quarter was up 68.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 earnings per share. Equities analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

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 transaction, the chief technology officer directly owned 3,323,681 shares of the company’s stock, valued at $1,812,669,143.78. The trade was a 0.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eduardo Vivas sold 150,000 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $650.91, for a total value of $97,636,500.00. Following the sale, the director owned 7,133,292 shares in the company, valued at approximately $4,643,131,095.72. The trade was a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 340,336 shares of company stock valued at $200,062,623. Corporate insiders own 13.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on APP shares. Royal Bank Of Canada raised their price objective on shares of AppLovin from $700.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Wells Fargo & Company upped their price target on shares of AppLovin from $721.00 to $735.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Morgan Stanley lifted their price target on shares of AppLovin from $750.00 to $800.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft set a $705.00 price objective on shares of AppLovin and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Finally, Piper Sandler restated an “overweight” rating on shares of AppLovin in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $706.45.

About AppLovin

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.