Birch Hill Investment Advisors LLC Acquires New Position in AppLovin Co. (NASDAQ:APP)

Birch Hill Investment Advisors LLC bought a new position in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,127 shares of the company’s stock, valued at approximately $365,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GHP Investment Advisors Inc. bought a new position in AppLovin during the 4th quarter worth approximately $25,000. Fifth Third Bancorp raised its stake in shares of AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after acquiring an additional 62 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in AppLovin by 139.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after purchasing an additional 89 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in AppLovin in the third quarter worth $25,000. Finally, Meeder Asset Management Inc. bought a new stake in AppLovin in the third quarter valued at $27,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on APP shares. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $280.00 in a report on Friday, November 8th. Loop Capital lifted their price objective on AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Wells Fargo & Company increased their target price on AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Benchmark began coverage on shares of AppLovin in a report on Friday, January 10th. They set a “buy” rating and a $375.00 target price on the stock. Finally, Macquarie upped their price target on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $366.29.

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the sale, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the transaction, the chief financial officer now directly owns 207,649 shares in the company, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock worth $284,773,062 in the last quarter. Company insiders own 14.69% of the company’s stock.

AppLovin Trading Down 1.3 %

Shares of APP stock opened at $375.72 on Friday. 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 Co. has a 12-month low of $45.12 and a 12-month high of $417.64. The stock has a market capitalization of $126.09 billion, a P/E ratio of 113.85, a P/E/G ratio of 3.10 and a beta of 2.30. The firm’s 50 day moving average is $346.12 and its 200 day moving average is $218.27.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. Research analysts expect that AppLovin Co. will post 4.09 earnings per share for the current 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.