Greenwich Wealth Management LLC Purchases New Stake in AppLovin Co. (NASDAQ:APP)

Greenwich Wealth Management LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 818 shares of the company’s stock, valued at approximately $265,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin during the fourth quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new stake in AppLovin in the 3rd quarter worth approximately $27,000. Riverview Trust Co boosted its stake in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after buying an additional 82 shares during the period. Hemington Wealth Management grew its holdings in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the transaction, the chief executive officer now owns 2,869,492 shares of the company’s stock, valued at $1,179,045,567.88. This represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the sale, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 322,871 shares of company stock valued at $111,401,882 in the last ninety days. Company insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

APP has been the subject of a number of research reports. UBS Group lifted their price objective on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Citigroup lifted their price target on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. The Goldman Sachs Group increased their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. JPMorgan Chase & Co. lifted their target price on shares of AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group increased their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $438.28.

AppLovin Price Performance

NASDAQ APP opened at $292.89 on Monday. The stock has a 50-day simple moving average of $357.00 and a 200 day simple moving average of $269.20. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The stock has a market capitalization of $99.57 billion, a PE ratio of 64.51, a P/E/G ratio of 3.02 and a beta of 2.33. 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:APP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current 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.