Kovack Advisors Inc. Makes New $342,000 Investment in AppLovin Co. (NASDAQ:APP)

Kovack Advisors Inc. acquired a new position in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,056 shares of the company’s stock, valued at approximately $342,000.

Several other institutional investors and hedge funds have also bought and sold shares of APP. abrdn plc lifted its holdings in AppLovin by 784.2% in the third quarter. abrdn plc now owns 49,691 shares of the company’s stock worth $6,487,000 after buying an additional 44,071 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of AppLovin by 97.8% during the third quarter. New York State Teachers Retirement System now owns 14,850 shares of the company’s stock valued at $1,939,000 after purchasing an additional 7,342 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new position in shares of AppLovin during the third quarter valued at approximately $296,000. HM Payson & Co. lifted its holdings in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of AppLovin by 7.5% during the third quarter. US Bancorp DE now owns 53,986 shares of the company’s stock valued at $7,048,000 after purchasing an additional 3,771 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Trading Up 1.6 %

NASDAQ:APP opened at $325.78 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 $57.40 and a 12 month high of $525.15. The company has a market cap of $109.33 billion, a PE ratio of 71.76, a price-to-earnings-growth ratio of 3.02 and a beta of 2.30. The company has a 50 day simple moving average of $367.79 and a two-hundred day simple moving average of $254.18.

AppLovin (NASDAQ:APP) last posted 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%. Research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Herald Y. Chen sold 400 shares of AppLovin stock in a transaction on Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the transaction, the chief financial officer now owns 207,649 shares in the company, valued at $76,032,757.84. This represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 224,872 shares of company stock worth $82,158,554 in the last 90 days. 14.69% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on APP. BTIG Research lifted their target price on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler lifted their target price on shares of AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Wells Fargo & Company set a $538.00 price target on shares of AppLovin and gave the company an “overweight” rating in a research report on Thursday. Finally, Macquarie raised their price target on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $452.29.

AppLovin 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.