Hantz Financial Services Inc. Has $574,000 Holdings in AppLovin Corporation $APP

Hantz Financial Services Inc. cut its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 14.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,640 shares of the company’s stock after selling 287 shares during the quarter. Hantz Financial Services Inc.’s holdings in AppLovin were worth $574,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of APP. Revolve Wealth Partners LLC acquired a new position in shares of AppLovin during the fourth quarter worth approximately $294,000. Bison Wealth LLC acquired a new position in shares of AppLovin during the fourth quarter worth approximately $239,000. DAVENPORT & Co LLC raised its stake in shares of AppLovin by 15.3% in the first quarter. DAVENPORT & Co LLC now owns 2,058 shares of the company’s stock valued at $545,000 after purchasing an additional 273 shares in the last quarter. Private Trust Co. NA raised its stake in shares of AppLovin by 29.7% in the first quarter. Private Trust Co. NA now owns 1,000 shares of the company’s stock valued at $265,000 after purchasing an additional 229 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of AppLovin by 44.3% in the first quarter. Teacher Retirement System of Texas now owns 87,120 shares of the company’s stock valued at $23,084,000 after purchasing an additional 26,727 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Performance

AppLovin stock opened at $637.33 on Friday. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a fifty day moving average price of $589.79 and a two-hundred day moving average price of $438.41. AppLovin Corporation has a 52-week low of $158.33 and a 52-week high of $745.61. The firm has a market capitalization of $215.58 billion, a P/E ratio of 90.53, a P/E/G ratio of 3.46 and a beta of 2.53.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the company posted $0.89 earnings per share. The business’s revenue for the quarter was up 77.1% compared to the same quarter last year. As a group, analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current fiscal year.

Analysts Set New Price Targets

APP has been the subject of a number of recent research reports. Citigroup upped their target price on AppLovin from $600.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Wedbush restated an “outperform” rating and issued a $745.00 target price on shares of AppLovin in a research note on Thursday. Wells Fargo & Company upped their target price on AppLovin from $491.00 to $633.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Oppenheimer set a $740.00 target price on AppLovin in a research note on Tuesday, October 7th. Finally, Benchmark upped their target price on AppLovin from $525.00 to $640.00 and gave the company a “buy” rating in a research note on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $606.39.

Insiders Place Their Bets

In other news, CEO Arash Adam Foroughi sold 26,200 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $440.23, for a total transaction of $11,534,026.00. Following the sale, the chief executive officer owned 2,590,054 shares in the company, valued at approximately $1,140,219,472.42. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 30,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total value of $13,127,100.00. Following the sale, the chief technology officer owned 3,360,104 shares in the company, valued at $1,470,280,707.28. The trade was a 0.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,156,788 shares of company stock worth $514,863,333 over the last ninety days. Company insiders own 13.66% of the company’s stock.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.