Left Brain Wealth Management LLC Grows Holdings in AppLovin Co. (NASDAQ:APP)

Left Brain Wealth Management LLC grew its stake in AppLovin Co. (NASDAQ:APP) by 322.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,277 shares of the company’s stock after buying an additional 12,423 shares during the period. AppLovin makes up about 2.0% of Left Brain Wealth Management LLC’s holdings, making the stock its 15th biggest holding. Left Brain Wealth Management LLC’s holdings in AppLovin were worth $5,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. GHP Investment Advisors Inc. purchased a new stake in AppLovin in the 4th quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new stake in AppLovin in the 3rd quarter worth approximately $27,000. Riverview Trust Co lifted its holdings in AppLovin by 1,640.0% in the 4th 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. Hemington Wealth Management lifted its holdings in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on APP. Jefferies Financial Group increased their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Bank of America raised their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Macquarie raised their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Benchmark raised their price objective on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Stifel Nicolaus raised their price objective on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $438.28.

AppLovin Price Performance

APP opened at $272.00 on Friday. The stock has a 50-day moving average price of $358.15 and a 200-day moving average price of $265.29. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market cap of $92.47 billion, a PE ratio of 59.91, a P/E/G ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now directly owns 372,205 shares in the company, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 322,871 shares of company stock worth $111,401,882 over the last quarter. 14.69% of the stock is currently owned by insiders.

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.