826 Shares in AppLovin Co. (NASDAQ:APP) Acquired by Stonegate Investment Group LLC

Stonegate Investment Group LLC purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 826 shares of the company’s stock, valued at approximately $267,000.

Several other hedge funds also recently modified their holdings of the company. Revolve Wealth Partners LLC bought a new position in AppLovin during the fourth quarter valued at about $294,000. Pacer Advisors Inc. lifted its holdings in AppLovin by 8.3% in the 4th quarter. Pacer Advisors Inc. now owns 68,133 shares of the company’s stock valued at $22,064,000 after acquiring an additional 5,200 shares during the last quarter. Blue Trust Inc. grew its stake in shares of AppLovin by 49.3% in the 4th quarter. Blue Trust Inc. now owns 6,502 shares of the company’s stock worth $2,106,000 after purchasing an additional 2,146 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of AppLovin in the 4th quarter worth approximately $513,000. Finally, Drive Wealth Management LLC acquired a new stake in AppLovin during the fourth quarter valued at approximately $256,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 5.2 %

Shares of AppLovin stock opened at $360.75 on Wednesday. The stock has a 50-day simple moving average of $339.10 and a 200-day simple moving average of $203.00. AppLovin Co. has a 52-week low of $40.71 and a 52-week high of $417.64. The firm has a market cap of $121.06 billion, a price-to-earnings ratio of 109.32, a P/E/G ratio of 2.96 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. On average, equities research analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

APP has been the topic of several research reports. Loop Capital upped their price target on AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a report on Monday, December 16th. Stifel Nicolaus boosted their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Macquarie increased their price target on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Jefferies Financial Group upped their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $280.00 in a report on Friday, November 8th. Four investment analysts have rated the stock with 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 stock has an average rating of “Moderate Buy” and a consensus target price of $366.29.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $406.27, for a total transaction of $203,135.00. Following the transaction, the director now owns 6,684 shares in the company, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock valued at $284,773,062 over the last three months. 14.69% of the stock is currently 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.