AppLovin Corporation $APP Stock: Kestra Advisory Services LLC Grows Stake

Kestra Advisory Services LLC increased its holdings in AppLovin Corporation (NASDAQ:APP) by 113.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,250 shares of the company’s stock after buying an additional 10,753 shares during the period. Kestra Advisory Services LLC’s holdings in AppLovin were worth $5,881,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of APP. Pioneer Family Office LLC bought a new position in AppLovin in the second quarter worth about $31,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of AppLovin in the 1st quarter valued at about $25,000. LifeSteps Financial Inc. bought a new stake in shares of AppLovin in the 2nd quarter valued at about $40,000. Archer Investment Corp bought a new stake in shares of AppLovin in the 2nd quarter valued at about $42,000. Finally, IMA Advisory Services Inc. grew its position in shares of AppLovin by 40.0% in the 1st quarter. IMA Advisory Services Inc. now owns 84 shares of the company’s stock worth $33,000 after buying an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on APP shares. Raymond James Financial decreased their target price on shares of AppLovin from $640.00 to $590.00 in a research report on Thursday, August 6th. Deutsche Bank lowered their target price on shares of AppLovin from $660.00 to $580.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Oppenheimer reaffirmed an “outperform” rating and issued a $520.00 price target (up from $490.00) on shares of AppLovin in a report on Thursday, November 5th. UBS Group reduced their price target on AppLovin from $790.00 to $414.00 and set a “buy” rating on the stock in a research report on Wednesday, October 28th. Finally, Citigroup decreased their price objective on AppLovin from $600.00 to $500.00 and set a “buy” rating for the company in a report on Monday, October 19th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $497.93.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $393.68 on Friday. AppLovin Corporation has a twelve month low of $225.19 and a twelve month high of $738.01. The company’s 50 day moving average is $300.22 and its 200 day moving average is $407.35. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 1.07. The company has a market cap of $131.75 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 0.82 and a beta of 2.51.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 4th. The company reported $4.30 EPS for the quarter, beating the consensus estimate of $4.03 by $0.27. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.07 billion. AppLovin had a net margin of 65.89% and a return on equity of 182.97%. The business’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.45 EPS. On average, sell-side analysts forecast that AppLovin Corporation will post 16.25 EPS for the current year.

More AppLovin News

Investors following APP have been watching these news items:

• Positive Sentiment: Recent coverage highlighted strong third-quarter results, including revenue growth of about 55%, and fourth-quarter guidance above expectations. The company also announced a larger share-repurchase plan, providing support for the bullish case. AppLovin (APP) Jumps On Strong Q3 Results, Is The Stock Still Cheap?
• Neutral Sentiment: AppLovin had risen sharply over the prior month, leaving investors weighing its growth prospects against whether the rally had run too far. AppLovin Just Ripped 47% in a Month: Is It Too Late to Buy APP Stock Now?
• Negative Sentiment: Several law firms publicized a pending securities class action and the November 16 lead-plaintiff deadline. The lawsuit alleges that AppLovin’s statements about the progress and adoption of its AI models and self-service advertising tools were misleading; these are allegations, not findings. The legal overhang may weigh on sentiment. AppLovin Investors Alert

AppLovin Company Profile

AppLovin is a technology company that provides software to help mobile app developers and advertisers grow their businesses. Its platform connects advertisers seeking users with app publishers looking to monetize their audiences, using data and machine-learning tools to support advertising and user acquisition. The company’s products include AXON, its advertising optimization engine; AppDiscovery, which helps advertisers find and acquire users; and MAX, a platform for managing in-app advertising.