1,393 Shares in AppLovin Co. (NASDAQ:APP) Acquired by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,393 shares of the company’s stock, valued at approximately $451,000.

Other institutional investors have also modified their holdings of the company. FMR LLC increased its stake in shares of AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after buying an additional 6,801,138 shares during the period. Fred Alger Management LLC acquired a new position in AppLovin during the 2nd quarter worth approximately $290,655,000. WCM Investment Management LLC increased its position in shares of AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. Janus Henderson Group PLC increased its holdings in AppLovin by 31.3% in the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after buying an additional 560,560 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after buying an additional 500,407 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $342.34 on Tuesday. 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 Co. has a one year low of $40.71 and a one year high of $417.64. The firm has a market capitalization of $114.89 billion, a P/E ratio of 103.74, a PEG ratio of 2.68 and a beta of 2.29. The company’s fifty day moving average is $331.86 and its two-hundred day moving average is $191.58.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The firm’s revenue was up 38.6% on a year-over-year basis. Analysts forecast that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on APP. The Goldman Sachs Group downgraded AppLovin from a “buy” rating to a “neutral” rating and increased their price objective for the company from $103.00 to $150.00 in a report on Monday, October 14th. Piper Sandler assumed coverage on shares of AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price target on the stock. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $480.00 target price on shares of AppLovin in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company boosted their price target on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $338.06.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the sale, the insider now directly owns 405,676 shares in the company, valued at $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 in the last ninety days. Corporate insiders own 14.69% of the company’s stock.

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.