Raymond James Financial Services Advisors Inc. Purchases New Shares in AppLovin Co. (NASDAQ:APP)

Raymond James Financial Services Advisors Inc. acquired a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,955 shares of the company’s stock, valued at approximately $237,000.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of AppLovin by 8.5% in the third quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock worth $723,245,000 after buying an additional 1,411,453 shares during the period. Ameriprise Financial Inc. increased its stake in AppLovin by 4,805.9% in the third quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock worth $56,050,000 after purchasing an additional 1,374,066 shares during the period. Raymond James & Associates lifted its position in shares of AppLovin by 12.3% during the fourth quarter. Raymond James & Associates now owns 1,041,839 shares of the company’s stock worth $41,517,000 after purchasing an additional 113,932 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of AppLovin by 10.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 989,922 shares of the company’s stock valued at $39,557,000 after purchasing an additional 93,618 shares during the period. Finally, Scout Investments Inc. grew its holdings in shares of AppLovin by 83.2% in the third quarter. Scout Investments Inc. now owns 923,361 shares of the company’s stock worth $37,692,000 after purchasing an additional 419,221 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the subject of several research reports. The Goldman Sachs Group boosted their price objective on shares of AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Wedbush boosted their price target on AppLovin from $67.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. UBS Group raised their price objective on AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Morgan Stanley lifted their target price on AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. Finally, TheStreet raised AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.31.

Insiders Place Their Bets

In other news, Director Craig Scott Billings sold 5,550 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction of $323,731.50. Following the transaction, the director now owns 12,739 shares in the company, valued at $743,065.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Matthew Stumpf sold 2,775 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total value of $175,657.50. Following the completion of the transaction, the chief financial officer now owns 362,264 shares in the company, valued at approximately $22,931,311.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Craig Scott Billings sold 5,550 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total value of $323,731.50. Following the sale, the director now owns 12,739 shares in the company, valued at approximately $743,065.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,215 shares of company stock valued at $4,416,815. 12.43% of the stock is currently owned by corporate insiders.

AppLovin Trading Up 4.9 %

NASDAQ:APP opened at $71.19 on Wednesday. The stock has a market capitalization of $24.35 billion, a price-to-earnings ratio of 71.19, a PEG ratio of 1.35 and a beta of 1.90. AppLovin Co. has a 52 week low of $15.41 and a 52 week high of $79.55. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31. The firm has a 50 day moving average of $66.18 and a 200 day moving average of $49.46.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.35 by $0.14. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The firm had revenue of $953.26 million during the quarter, compared to analyst estimates of $928.66 million. During the same quarter in the prior year, the business posted ($0.21) EPS. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that AppLovin Co. will post 2.47 earnings per share for the current fiscal year.

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.