Operose Advisors LLC Purchases New Position in AppLovin Co. (NASDAQ:APP)

Operose Advisors LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 116 shares of the company’s stock, valued at approximately $38,000.

Several other institutional investors have also modified their holdings of APP. GHP Investment Advisors Inc. acquired a new position in AppLovin in the fourth quarter valued at $25,000. Riverview Trust Co lifted its holdings in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after purchasing an additional 82 shares during the last quarter. Tucker Asset Management LLC purchased a new position in AppLovin during the 4th quarter worth approximately $28,000. Hemington Wealth Management increased its position in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares during the period. Finally, Fifth Third Bancorp lifted its stake in AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after buying an additional 62 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 analysts have recently issued reports on APP shares. Piper Sandler lowered their target price on shares of AppLovin from $575.00 to $425.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company reduced their target price on shares of AppLovin from $538.00 to $386.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Arete Research set a $200.00 price target on AppLovin in a research report on Wednesday, March 5th. FBN Securities started coverage on AppLovin in a research report on Friday, March 28th. They set an “outperform” rating and a $385.00 price objective for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $424.84.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock worth $106,401,841 over the last three months. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

AppLovin stock opened at $245.47 on Wednesday. The firm has a market capitalization of $83.45 billion, a PE ratio of 54.07, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The firm’s 50-day simple moving average is $321.85 and its 200 day simple moving average is $294.97. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping 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%. On average, equities research analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

AppLovin 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.