Fidelis Capital Partners LLC Makes New $389,000 Investment in AppLovin Co. (NASDAQ:APP)

Fidelis Capital Partners LLC purchased a new position in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,201 shares of the company’s stock, valued at approximately $389,000.

A number of other hedge funds have also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new position in AppLovin in the 3rd quarter worth $25,000. GHP Investment Advisors Inc. bought a new position in shares of AppLovin during the fourth quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin during the third quarter valued at about $27,000. Riverview Trust Co increased its holdings in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares during the period. Finally, Hemington Wealth Management lifted its stake 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 last quarter. 41.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APP has been the topic of several recent analyst reports. Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the stock an “overweight” rating in a report on Thursday, February 27th. Wedbush reissued an “outperform” rating and issued a $270.00 price target (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Loop Capital upped their price objective on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Citigroup raised their target price on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus upped their price target on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $452.29.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dawson Alyssa Harvey sold 500 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the transaction, the director now directly owns 6,684 shares in the company, valued at approximately $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 406,947 shares of company stock valued at $140,740,416. Insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

AppLovin stock opened at $327.23 on Wednesday. The stock’s 50 day moving average is $367.35 and its 200 day moving average is $258.85. The company has a market capitalization of $109.82 billion, a P/E ratio of 72.08, a PEG ratio of 3.02 and a beta of 2.30. AppLovin Co. has a twelve month low of $59.30 and a twelve month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

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

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.