NEOS Investment Management LLC Purchases 67,707 Shares of AppLovin Corporation $APP

NEOS Investment Management LLC boosted its holdings in shares of AppLovin Corporation (NASDAQ:APP) by 127.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,894 shares of the company’s stock after buying an additional 67,707 shares during the quarter. AppLovin makes up about 0.7% of NEOS Investment Management LLC’s investment portfolio, making the stock its 21st largest holding. NEOS Investment Management LLC’s holdings in AppLovin were worth $86,867,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in APP. LFA Lugano Financial Advisors SA purchased a new stake in shares of AppLovin in the 2nd quarter worth $26,000. Chilton Capital Management LLC bought a new position in shares of AppLovin during the 3rd quarter valued at approximately $29,000. Activest Wealth Management increased its stake in shares of AppLovin by 760.0% in the third quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after purchasing an additional 38 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in AppLovin in the 2nd quarter worth $33,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in AppLovin during the 3rd quarter valued at approximately $33,000. 41.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on APP. Scotiabank boosted their price target on shares of AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a research note on Thursday. Jefferies Financial Group reduced their target price on AppLovin from $860.00 to $700.00 and set a “buy” rating on the stock in a report on Thursday. Weiss Ratings lowered AppLovin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 15th. Evercore restated a “buy” rating on shares of AppLovin in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. lifted their price objective on AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Twenty equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $651.77.

Insider Transactions at AppLovin

In related news, CTO Vasily Shikin sold 7,385 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $538.10, for a total transaction of $3,973,868.50. Following the completion of the sale, the chief technology officer directly owned 46,004 shares in the company, valued at $24,754,752.40. This represents a 13.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Victoria Valenzuela sold 7,609 shares of AppLovin stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $657.13, for a total value of $5,000,102.17. Following the completion of the transaction, the insider owned 277,110 shares in the company, valued at $182,097,294.30. This trade represents a 2.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 187,786 shares of company stock valued at $100,914,925 over the last 90 days. 13.66% of the stock is owned by corporate insiders.

AppLovin Stock Up 6.7%

Shares of NASDAQ APP opened at $391.55 on Tuesday. AppLovin Corporation has a 1 year low of $200.50 and a 1 year high of $745.61. The firm has a 50-day simple moving average of $590.55 and a two-hundred day simple moving average of $573.26. The company has a market cap of $132.32 billion, a P/E ratio of 40.16, a PEG ratio of 1.25 and a beta of 2.49. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.25.

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

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.