AppLovin Co. (NASDAQ:APP) Shares Purchased by Avior Wealth Management LLC

Avior Wealth Management LLC boosted its holdings in AppLovin Co. (NASDAQ:APP) by 54.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215 shares of the company’s stock after purchasing an additional 76 shares during the quarter. Avior Wealth Management LLC’s holdings in AppLovin were worth $70,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in AppLovin by 139.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock worth $50,000 after purchasing an additional 89 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of AppLovin during the third quarter valued at $25,000. Meeder Asset Management Inc. acquired a new position in shares of AppLovin during the third quarter valued at $27,000. DT Investment Partners LLC acquired a new position in shares of AppLovin during the third quarter valued at $27,000. Finally, Raleigh Capital Management Inc. acquired a new position in shares of AppLovin during the third quarter valued at $29,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $366.34 on Thursday. The stock’s 50-day moving average price is $339.92 and its two-hundred day moving average price is $204.14. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market cap of $122.94 billion, a PE ratio of 111.01, a PEG ratio of 2.96 and a beta of 2.29. AppLovin Co. has a 1 year low of $40.71 and a 1 year 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, topping the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS. On average, analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the sale, the chief technology officer now directly owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. This trade represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 transaction, the chief marketing officer now owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 888,867 shares of company stock worth $284,773,062. Company insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on APP shares. 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 report on Monday, January 13th. UBS Group boosted their price target on shares of AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Citigroup upped their price objective on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $480.00 price objective on shares of AppLovin in a report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $366.29.

About AppLovin

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.