NEOS Investment Management LLC Buys New Shares in AppLovin Co. (NASDAQ:APP)

NEOS Investment Management LLC purchased a new position in AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,337 shares of the company’s stock, valued at approximately $6,262,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JFS Wealth Advisors LLC lifted its holdings in shares of AppLovin by 38.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after purchasing an additional 29 shares in the last quarter. Truvestments Capital LLC raised its holdings in AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after buying an additional 38 shares during the last quarter. National Bank of Canada FI raised its holdings in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after buying an additional 39 shares during the last quarter. Hemington Wealth Management lifted its stake in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of AppLovin by 19.7% during the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after buying an additional 53 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by insiders.

Analyst Ratings Changes

APP has been the topic of a number of analyst reports. Piper Sandler upped their target price on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Jefferies Financial Group raised their target price on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. Citigroup increased their price target on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Loop Capital lifted their price objective on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $438.28.

AppLovin Stock Down 20.1 %

APP opened at $261.70 on Friday. The company’s 50-day moving average price is $353.26 and its two-hundred day moving average price is $280.42. 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 Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The stock has a market cap of $88.97 billion, a price-to-earnings ratio of 57.64, a PEG ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, equities analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

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.