Empirical Financial Services LLC d.b.a. Empirical Wealth Management Takes $411,000 Position in AppLovin Co. (NASDAQ:APP)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,269 shares of the company’s stock, valued at approximately $411,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of AppLovin during the 3rd quarter worth $25,000. DT Investment Partners LLC bought a new stake in AppLovin in the third quarter worth $27,000. Meeder Asset Management Inc. acquired a new position in AppLovin during the third quarter worth $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin in the third quarter worth about $29,000. Finally, Fifth Third Bancorp boosted its stake in shares of AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after acquiring an additional 62 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Up 1.5 %

Shares of APP opened at $366.34 on Thursday. AppLovin Co. has a 12 month low of $40.71 and a 12 month high of $417.64. The stock has a market cap of $122.94 billion, a price-to-earnings ratio of 111.01, a P/E/G ratio of 2.96 and a beta of 2.29. The company has a 50-day moving average price of $339.92 and a two-hundred day moving average price of $204.14. 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 announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm earned $0.30 EPS. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. Equities analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on APP. Stifel Nicolaus raised their price objective on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Macquarie boosted their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Loop Capital raised their target price on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, December 16th. UBS Group boosted their target price on shares of AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, BTIG Research raised their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $366.29.

Insider Transactions at AppLovin

In other AppLovin news, CFO Herald Y. Chen sold 400 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the transaction, the chief financial officer now owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. The trade was a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by insiders.

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.