Baron Wealth Management LLC Makes New Investment in AppLovin Co. (NASDAQ:APP)

Baron Wealth Management LLC bought a new stake in AppLovin Co. (NASDAQ:APPFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,382 shares of the company’s stock, valued at approximately $448,000.

Several other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in AppLovin in the 3rd quarter valued at about $25,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin during the 3rd quarter valued at approximately $27,000. Meeder Asset Management Inc. bought a new position in AppLovin in the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. bought a new stake in AppLovin during the 3rd quarter valued at $29,000. Finally, Fifth Third Bancorp lifted its position in shares of AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the sale, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock worth $284,773,062 in the last ninety days. 14.69% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on APP shares. Macquarie raised their price objective on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Piper Sandler began coverage on shares of AppLovin in a report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price target for the company. Stifel Nicolaus upped their price target on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Jefferies Financial Group lifted their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Loop Capital upped their target price on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $366.29.

Get Our Latest Analysis on APP

AppLovin Trading Up 1.5 %

APP stock opened at $366.34 on Thursday. AppLovin Co. has a one year low of $40.71 and a one year high of $417.64. The company has a market capitalization of $122.94 billion, a PE ratio of 111.01, a price-to-earnings-growth ratio of 2.96 and a beta of 2.29. The company’s 50 day moving average price is $339.92 and its two-hundred day moving average price is $204.14. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

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

About AppLovin

(Free Report)

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.

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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