Relyea Zuckerberg Hanson LLC Buys New Holdings in AppLovin Co. (NASDAQ:APP)

Relyea Zuckerberg Hanson LLC bought a new stake in AppLovin Co. (NASDAQ:APP) during the fourth quarter, Holdings Channel reports. The fund bought 917 shares of the company’s stock, valued at approximately $297,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in shares of AppLovin during the second quarter worth about $33,000. American Century Companies Inc. increased its holdings in AppLovin by 80.1% in the second quarter. American Century Companies Inc. now owns 232,378 shares of the company’s stock valued at $19,338,000 after buying an additional 103,335 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in AppLovin by 695.0% in the second quarter. Envestnet Asset Management Inc. now owns 549,453 shares of the company’s stock valued at $45,725,000 after buying an additional 480,336 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in AppLovin by 3.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 186,395 shares of the company’s stock valued at $15,512,000 after buying an additional 5,483 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in AppLovin by 27.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,494,516 shares of the company’s stock valued at $124,372,000 after buying an additional 322,563 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock valued at $284,773,062 over the last ninety days. Insiders own 14.69% of the company’s stock.

AppLovin Trading Up 3.1 %

AppLovin stock opened at $342.34 on Friday. The firm has a 50 day simple moving average of $330.75 and a 200-day simple moving average of $188.33. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market capitalization of $114.89 billion, a PE ratio of 103.74, a price-to-earnings-growth ratio of 2.68 and a beta of 2.29. AppLovin Co. has a 12-month low of $40.71 and a 12-month high of $417.64.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $1.13 billion. During the same period last year, the firm posted $0.30 earnings per share. The business’s revenue was up 38.6% on a year-over-year basis. As a group, equities research analysts expect that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on APP. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Jefferies Financial Group upped their target price on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and upped their target price for the company from $80.00 to $280.00 in a report on Friday, November 8th. Macquarie upped their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, BTIG Research upped their target price on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $338.06.

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.