Sigma Planning Corp Makes New Investment in AppLovin Co. (NASDAQ:APP)

Sigma Planning Corp bought a new position in AppLovin Co. (NASDAQ:APP) during the fourth quarter, Holdings Channel.com reports. The firm bought 2,507 shares of the company’s stock, valued at approximately $812,000.

Other institutional investors also recently modified their holdings of the company. FMR LLC increased its holdings in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after buying an additional 6,801,138 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after acquiring an additional 4,010,520 shares during the period. Jennison Associates LLC bought a new position in shares of AppLovin during the 4th quarter valued at approximately $414,462,000. WCM Investment Management LLC increased its stake in shares of AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of AppLovin by 31.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after purchasing an additional 560,560 shares during the period. 41.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on APP. The Goldman Sachs Group raised their target price on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $280.00 in a report on Friday, November 8th. Macquarie boosted their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. 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 report on Thursday, February 13th. Finally, Stifel Nicolaus boosted their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. 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, the stock has an average rating of “Moderate Buy” and an average target price of $442.18.

AppLovin Price Performance

NASDAQ:APP opened at $377.06 on Wednesday. AppLovin Co. has a 52-week low of $57.40 and a 52-week high of $525.15. The stock has a fifty day moving average of $367.70 and a 200 day moving average of $250.18. 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 firm has a market capitalization of $126.54 billion, a price-to-earnings ratio of 83.05, a P/E/G ratio of 3.02 and a beta of 2.30.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, research analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, Director Mary Margaret Hasti Georgiadis sold 30,500 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $339.69, for a total transaction of $10,360,545.00. Following the sale, the director now owns 154,500 shares in the company, valued at approximately $52,482,105. This trade represents a 16.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Victoria Valenzuela sold 17,925 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 405,676 shares of the company’s stock, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,372 shares of company stock worth $92,519,099 over the last three months. 14.69% of the stock is owned by insiders.

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.