842 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC acquired a new stake in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 842 shares of the company’s stock, valued at approximately $273,000.

Other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of AppLovin during the third quarter valued at approximately $25,000. GHP Investment Advisors Inc. bought a new stake in AppLovin during the 4th quarter valued at $25,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin in the 3rd quarter worth $27,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin during the 3rd quarter worth $27,000. Finally, Raleigh Capital Management Inc. purchased a new position in shares of AppLovin during the third quarter valued at $29,000. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

APP has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Wells Fargo & Company increased their price objective 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. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Wedbush restated an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, Piper Sandler assumed coverage on AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price target for the company. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $366.29.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the transaction, the chief executive officer now directly owns 3,058,635 shares in the company, valued at $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the transaction, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 828,991 shares of company stock valued at $267,640,144. Company insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of APP opened at $375.25 on Wednesday. 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 company’s fifty day moving average price is $347.17 and its 200-day moving average price is $223.52. AppLovin Co. has a 1-year low of $45.12 and a 1-year high of $417.64. The firm has a market capitalization of $125.93 billion, a PE ratio of 113.71, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30.

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.