Smithfield Trust Co Invests $32,000 in AppLovin Co. (NASDAQ:APP)

Smithfield Trust Co acquired a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 100 shares of the company’s stock, valued at approximately $32,000.

Other large investors have also modified their holdings of the company. JFS Wealth Advisors LLC increased its holdings in AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after buying an additional 29 shares during the last quarter. National Bank of Canada FI increased its holdings in AppLovin by 4.0% in the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after buying an additional 39 shares during the last quarter. Hemington Wealth Management increased its holdings in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares during the last quarter. Versant Capital Management Inc increased its holdings in AppLovin by 19.7% in the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after buying an additional 53 shares during the last quarter. Finally, Great Valley Advisor Group Inc. increased its holdings in AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 2.8 %

Shares of AppLovin stock opened at $318.00 on Thursday. AppLovin Co. has a 12-month low of $59.30 and a 12-month high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market cap of $106.72 billion, a PE ratio of 70.04, a price-to-earnings-growth ratio of 3.02 and a beta of 2.30. The company has a 50-day moving average of $366.88 and a two-hundred day moving average of $259.26.

AppLovin (NASDAQ:APP) last issued its 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 net margin of 33.54% and a return on equity of 188.55%. On average, research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 406,947 shares of company stock valued at $140,740,416. Corporate insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on APP shares. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the company an “overweight” rating in a report on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Thursday, February 13th. UBS Group upped their price objective on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Finally, The Goldman Sachs Group upped their price objective on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.