Abacus FCF Advisors LLC Boosts Holdings in AppLovin Co. (NASDAQ:APP)

Abacus FCF Advisors LLC boosted its position in shares of AppLovin Co. (NASDAQ:APP) by 46.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,897 shares of the company’s stock after purchasing an additional 17,732 shares during the period. AppLovin comprises about 2.4% of Abacus FCF Advisors LLC’s investment portfolio, making the stock its 5th biggest position. Abacus FCF Advisors LLC’s holdings in AppLovin were worth $18,101,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. bought a new position in AppLovin in the 4th quarter valued at $25,000. Riverview Trust Co lifted its stake in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares during the period. Tucker Asset Management LLC bought a new position in AppLovin in the fourth quarter valued at about $28,000. Hemington Wealth Management increased its position in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the period. Finally, Fifth Third Bancorp increased its position in AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Price Performance

Shares of NASDAQ APP opened at $232.22 on Tuesday. The firm’s 50-day moving average price is $340.67 and its 200-day moving average price is $290.34. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $78.95 billion, a P/E ratio of 51.15, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Equities research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

APP has been the topic of a number of research reports. Loop Capital restated a “buy” rating and set a $650.00 target price on shares of AppLovin in a research report on Friday, March 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Monday, March 17th. UBS Group upped their target price on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Benchmark lifted their price objective on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Arete Research set a $200.00 target price on AppLovin in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $435.47.

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the sale, the chief executive officer now owns 2,869,492 shares in the company, valued at approximately $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 over the last ninety days. 14.69% of the stock is currently owned by insiders.

About AppLovin

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.