Centaurus Financial Inc. Purchases 500 Shares of AppLovin Co. (NASDAQ:APP)

Centaurus Financial Inc. grew its stake in AppLovin Co. (NASDAQ:APP) by 1.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 26,604 shares of the company’s stock after buying an additional 500 shares during the quarter. Centaurus Financial Inc.’s holdings in AppLovin were worth $3,473,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in AppLovin in the 3rd quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in AppLovin in the 3rd quarter worth approximately $27,000. DT Investment Partners LLC purchased a new position in AppLovin in the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin in the 3rd quarter valued at $29,000. Finally, HM Payson & Co. grew its holdings in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on APP. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Bank of America upped their price target on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Stifel Nicolaus upped their price target on shares of AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on shares of AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $280.00 in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $222.96.

AppLovin Price Performance

APP stock opened at $333.31 on Friday. AppLovin Co. has a 1 year low of $35.79 and a 1 year high of $342.51. The company has a market cap of $111.86 billion, a P/E ratio of 101.00, a PEG ratio of 3.92 and a beta of 1.86. The firm has a 50-day moving average of $181.30 and a 200 day moving average of $117.41. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm earned $0.30 earnings per share. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, sell-side analysts forecast that AppLovin Co. will post 4.05 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 154,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the sale, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 854,065 shares of company stock valued at $233,072,408. Corporate insiders own 14.69% 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.