Sandy Spring Bank Has $88,000 Position in AppLovin Co. (NASDAQ:APP)

Sandy Spring Bank increased its stake in shares of AppLovin Co. (NASDAQ:APP) by 58.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 272 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Sandy Spring Bank’s holdings in AppLovin were worth $88,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in APP. OneDigital Investment Advisors LLC acquired a new stake in shares of AppLovin during the third quarter worth approximately $336,000. Pathstone Holdings LLC boosted its holdings in shares of AppLovin by 5.5% during the third quarter. Pathstone Holdings LLC now owns 19,866 shares of the company’s stock worth $2,594,000 after purchasing an additional 1,042 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin during the third quarter worth approximately $27,000. Prospera Financial Services Inc acquired a new stake in shares of AppLovin during the third quarter worth approximately $294,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of AppLovin during the third quarter worth approximately $714,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. The trade was a 16.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by company insiders.

AppLovin Trading Up 2.4 %

Shares of APP stock opened at $314.03 on Friday. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The firm’s fifty day simple moving average is $353.83 and its 200 day simple moving average is $273.98. The firm has a market capitalization of $106.76 billion, a P/E ratio of 69.17, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, sell-side analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Benchmark lifted their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Oppenheimer reiterated an “outperform” rating and issued a $560.00 target price (up from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Arete Research set a $200.00 target price on shares of AppLovin in a research note on Wednesday, March 5th. Finally, Piper Sandler lifted their target price on shares of AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $438.28.

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.