AssuredPartners Investment Advisors LLC Takes Position in AppLovin Co. (NASDAQ:APP)

AssuredPartners Investment Advisors LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 3,217 shares of the company’s stock, valued at approximately $1,042,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JFS Wealth Advisors LLC grew its stake in shares of AppLovin by 38.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after acquiring an additional 29 shares during the last quarter. Truvestments Capital LLC boosted its stake in AppLovin by 0.7% in the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after purchasing an additional 38 shares in the last quarter. National Bank of Canada FI grew its position in AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after purchasing an additional 39 shares during the last quarter. Hemington Wealth Management increased its stake in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of AppLovin by 19.7% in the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on APP shares. Loop Capital upped their target price on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Oppenheimer reiterated an “outperform” rating and issued a $560.00 target price (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Macquarie raised their price target on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, UBS Group upped their price objective on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $438.28.

AppLovin Price Performance

AppLovin stock opened at $261.70 on Friday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company’s fifty day moving average price is $353.26 and its 200 day moving average price is $280.42. The stock has a market capitalization of $88.97 billion, a P/E ratio of 57.64, a P/E/G ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 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, equities research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the company’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 owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock valued at $106,401,841 over the last quarter. 14.69% of the stock is currently owned by insiders.

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.