Captrust Financial Advisors Increases Stake in AppLovin Co.

In the third quarter, Captrust Financial Advisors increased its stake in AppLovin Co. (NASDAQ:APP) by 5.6%, as reported in its latest 13F filing with the Securities and Exchange Commission. This adjustment resulted in the fund acquiring a total of 183,211 shares after purchasing an additional 9,791 shares during the quarter. The current value of Captrust's holdings in AppLovin is approximately $23,918,000, which accounts for about 0.05% of the company.

Other Investors Increase Their Positions

Several other institutional investors have also made adjustments to their positions in AppLovin. Capital Performance Advisors LLP invested approximately $25,000 to acquire a new position in the third quarter, while Meeder Asset Management Inc. and DT Investment Partners LLC both purchased new stakes valued at around $27,000. Raleigh Capital Management Inc. invested $29,000, and HM Payson & Co. upped its holdings by 50%, bringing their total to 300 shares worth about $39,000. In total, hedge funds and institutional investors now hold 41.85% of AppLovin's stock.

Recent Insider Transactions

In other developments, Director Eduardo Vivas sold 30,330 shares on November 26, which amounted to over $10 million at an average price of $330.67. This sale reduced Vivas's ownership by 25.09%, leaving him with 90,576 shares valued at roughly $30 million. Similarly, Chief Technology Officer Vasily Shikin sold 154,500 shares at $84.14 per share, totaling nearly $13 million, resulting in a 3.30% decrease in his holdings. In the last quarter, insiders sold 884,395 shares valued at $243 million, currently holding 14.69% of the company’s stock.

AppLovin's Market Performance

As of the latest trading session, AppLovin's stock opened at $336.75. The company has a market capitalization of $113.01 billion and a price-to-earnings ratio of 102.05. Over the past year, shares have fluctuated between a low of $35.79 and a high of $344.77. Recent earnings results, reported on November 6, showed that the company achieved earnings of $1.25 per share, surpassing analysts' expectations. AppLovin's revenue increased by 38.6% year-over-year, reaching $1.20 billion in the quarter.

Analysts' Ratings and Future Projections

Various brokerages have weighed in on AppLovin's stock. Jefferies Financial Group raised its price target from $270 to $400 and assigned a buy rating. Conversely, Goldman Sachs downgraded the stock from buy to neutral, although it increased its price target from $103 to $150. Analysts currently hold a consensus rating of “Moderate Buy” with a price target set at $265.57, reflecting optimistic growth potential for AppLovin.

About AppLovin

AppLovin Corporation focuses on providing a platform that enhances marketing and monetization strategies for advertisers. The company operates through two segments: Software Platform and Apps. Its range of products includes tools for ad optimization, app growth, and connected TV streaming solutions.

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