First Horizon Advisors Inc. Has $304,000 Position in AppLovin Co. (NASDAQ:APP)

First Horizon Advisors Inc. grew its holdings in AppLovin Co. (NASDAQ:APP) by 29.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,332 shares of the company’s stock after purchasing an additional 533 shares during the period. First Horizon Advisors Inc.’s holdings in AppLovin were worth $304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. HM Payson & Co. lifted its stake in AppLovin by 50.0% in the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Aptus Capital Advisors LLC lifted its position in shares of AppLovin by 0.3% in the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after purchasing an additional 104 shares in the last quarter. Ashton Thomas Securities LLC boosted its stake in shares of AppLovin by 2.6% during the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after buying an additional 121 shares during the period. GAMMA Investing LLC grew its stake in AppLovin by 8.2% in the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after purchasing an additional 126 shares in the last quarter. Finally, American Trust grew its stake in shares of AppLovin by 2.8% in the 1st quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on APP. Citigroup upped their price target on AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. Macquarie boosted their price target on shares of AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wedbush restated an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Bank of America boosted their price objective on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.96.

AppLovin Stock Up 4.7 %

AppLovin stock opened at $333.31 on Friday. AppLovin Co. has a twelve month low of $35.79 and a twelve month high of $342.51. The stock has a market cap of $111.86 billion, a P/E ratio of 101.00, a P/E/G ratio of 3.95 and a beta of 1.86. The company’s 50-day moving average price is $181.30 and its two-hundred day moving average price is $117.13. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. As a group, analysts expect that AppLovin Co. will post 4.06 EPS for the current year.

Insider Transactions at AppLovin

In other news, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the transaction, the director now owns 2,987 shares of the company’s stock, valued at approximately $952,673.78. This represents a 85.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Stumpf sold 21,101 shares of AppLovin stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $332.67, for a total transaction of $7,019,669.67. Following the sale, the chief financial officer now owns 213,336 shares in the company, valued at approximately $70,970,487.12. This represents a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 854,065 shares of company stock valued at $233,072,408. 14.69% of the stock is owned by corporate insiders.

AppLovin 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.