Traynor Capital Management Inc. Buys New Shares in AppLovin Co. (NASDAQ:APP)

Traynor Capital Management Inc. purchased a new stake in shares of AppLovin Co. (NASDAQ:APPFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 662 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds have also recently bought and sold shares of the stock. National Bank of Canada FI raised its position 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 acquiring an additional 39 shares in the last quarter. Versant Capital Management Inc grew its holdings in AppLovin by 19.7% during the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after purchasing an additional 53 shares during the period. Great Valley Advisor Group Inc. increased its position in AppLovin by 2.2% during the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after buying an additional 60 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in AppLovin by 139.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after buying an additional 89 shares during the period. Finally, HM Payson & Co. lifted its position in shares of AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Up 0.2 %

Shares of NASDAQ APP opened at $362.52 on Friday. AppLovin Co. has a 52 week low of $40.71 and a 52 week high of $417.64. The stock’s fifty day moving average is $335.97 and its 200 day moving average is $195.69. 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 stock has a market capitalization of $121.66 billion, a P/E ratio of 109.85, a PEG ratio of 2.77 and a beta of 2.29.

AppLovin (NASDAQ:APPGet Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate 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 net margin of 26.85% and a return on equity of 122.24%. The business’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 company earned $0.30 EPS. Sell-side analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Macquarie boosted their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. UBS Group upped their price objective on shares of AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America raised their target price on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Finally, Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $355.41.

Get Our Latest Stock Analysis on APP

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 500 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $406.27, for a total transaction of $203,135.00. Following the sale, the director now owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the sale, the chief financial officer now directly owns 207,649 shares in the company, valued at approximately $76,032,757.84. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 in the last ninety days. 14.69% of the stock is owned by insiders.

About AppLovin

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Co. (NASDAQ:APPFree Report).

Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

Receive News & Ratings for AppLovin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AppLovin and related companies with MarketBeat.com's FREE daily email newsletter.