Nations Financial Group Inc. IA ADV Invests $2.20 Million in AppLovin Co. (NASDAQ:APP)

Nations Financial Group Inc. IA ADV purchased a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,800 shares of the company’s stock, valued at approximately $2,202,000.

Several other hedge funds have also recently made changes to their positions in the company. National Bank of Canada FI increased its position in shares of AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after acquiring an additional 39 shares during the period. Hemington Wealth Management increased its position in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Versant Capital Management Inc increased its position in shares of AppLovin by 19.7% in the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after acquiring an additional 53 shares during the period. Great Valley Advisor Group Inc. increased its position in shares of AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after acquiring an additional 60 shares during the period. Finally, Fifth Third Bancorp increased its position in shares of AppLovin by 172.2% in the 4th 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 period. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Up 8.2 %

Shares of NASDAQ APP opened at $510.13 on Friday. The company has a 50 day simple moving average of $351.33 and a 200-day simple moving average of $230.42. The company has a market capitalization of $171.19 billion, a P/E ratio of 154.59, a P/E/G ratio of 3.10 and a beta of 2.30. 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 Co. has a 1 year low of $52.75 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. On average, equities research analysts predict that AppLovin Co. will post 4.09 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on APP shares. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and upped their price target for the company from $80.00 to $280.00 in a report on Friday, November 8th. Piper Sandler increased their target price on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday. Loop Capital upped their price target on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. The Goldman Sachs Group upped their price target on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. 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 equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $422.18.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the transaction, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. The trade was a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 828,991 shares of company stock worth $267,640,144 in the last 90 days. Insiders own 14.69% of the company’s stock.

About AppLovin

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.