Signet Financial Management LLC Takes $317,000 Position in AppLovin Co. (NASDAQ:APP)

Signet Financial Management LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 979 shares of the company’s stock, valued at approximately $317,000.

A number of other large investors have also recently bought and sold shares of the business. Townsquare Capital LLC grew its stake in AppLovin by 64.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after buying an additional 3,126 shares during the last quarter. Second Half Financial Partners LLC bought a new position in shares of AppLovin during the third quarter worth about $224,000. State Street Corp increased its holdings in shares of AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after acquiring an additional 428,419 shares during the period. Eagle Asset Management Inc. lifted its position in AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after purchasing an additional 500,407 shares during the last quarter. Finally, Zacks Investment Management boosted its stake in AppLovin by 328.1% during the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after purchasing an additional 81,331 shares during the period. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 0.9 %

AppLovin stock opened at $315.68 on Tuesday. The firm has a market cap of $105.94 billion, a price-to-earnings ratio of 95.66, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. AppLovin Co. has a 1 year low of $39.43 and a 1 year high of $417.64. The firm’s 50 day moving average price is $321.54 and its two-hundred day moving average price is $182.80. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. On average, research analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the sale, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on APP shares. Benchmark began coverage on shares of AppLovin in a research note on Friday. They issued a “buy” rating and a $375.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Oppenheimer reaffirmed an “outperform” rating and set a $480.00 target price on shares of AppLovin in a research note on Tuesday, December 10th. Wells Fargo & Company increased their price target on AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Citigroup lifted their price objective on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Four investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $338.06.

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.