Kingswood Wealth Advisors LLC Makes New $513,000 Investment in AppLovin Co. (NASDAQ:APP)

Kingswood Wealth Advisors LLC acquired a new position in AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,583 shares of the company’s stock, valued at approximately $513,000.

Other institutional investors have also added to or reduced their stakes in the company. WCM Investment Management LLC grew its position in shares of AppLovin by 10.5% during 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 acquiring an additional 1,029,009 shares during the period. FMR LLC grew its position in shares of AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the period. State Street Corp grew its position in shares of AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after acquiring an additional 428,419 shares during the period. Geode Capital Management LLC grew its position in shares of AppLovin by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after acquiring an additional 449,241 shares during the period. Finally, Fred Alger Management LLC grew its position in shares of AppLovin by 1.3% during the 3rd quarter. Fred Alger Management LLC now owns 3,539,467 shares of the company’s stock valued at $462,077,000 after acquiring an additional 46,854 shares during the period. 41.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of research reports. Oppenheimer reissued an “outperform” rating and set a $480.00 target price on shares of AppLovin in a research report on Tuesday, December 10th. Wedbush restated an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. BTIG Research upped their price target on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Piper Sandler assumed coverage on shares of AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Four 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $366.29.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction 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 transaction, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the transaction, the chief technology officer now owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 888,867 shares of company stock valued at $284,773,062. Insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $365.51 on Friday. AppLovin Co. has a 1 year low of $40.71 and a 1 year high of $417.64. 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 $122.66 billion, a PE ratio of 110.76, a P/E/G ratio of 2.96 and a beta of 2.29. The company’s 50 day simple moving average is $340.85 and its two-hundred day simple moving average is $205.26.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share 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 firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company posted $0.30 EPS. The business’s quarterly revenue was up 38.6% on a year-over-year basis. Analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

AppLovin Company 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.