1,139 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Tcfg Wealth Management LLC

Tcfg Wealth Management LLC acquired a new position in AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,139 shares of the company’s stock, valued at approximately $369,000.

Several other institutional investors and hedge funds have also made changes to their positions in APP. Sanctuary Advisors LLC acquired a new position in shares of AppLovin during the 2nd quarter worth approximately $241,000. CWM LLC boosted its holdings in shares of AppLovin by 40.0% during the 3rd quarter. CWM LLC now owns 4,659 shares of the company’s stock worth $608,000 after purchasing an additional 1,331 shares during the last quarter. Creative Planning boosted its holdings in shares of AppLovin by 251.2% during the 3rd quarter. Creative Planning now owns 144,883 shares of the company’s stock worth $18,914,000 after purchasing an additional 103,628 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of AppLovin by 5.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 13,178 shares of the company’s stock worth $1,720,000 after purchasing an additional 708 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in shares of AppLovin by 87.5% during the 3rd quarter. Bleakley Financial Group LLC now owns 9,648 shares of the company’s stock worth $1,260,000 after purchasing an additional 4,503 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. BTIG Research boosted their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their price objective on AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Jefferies Financial Group upped their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday. Finally, Stifel Nicolaus upped their price objective on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a 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 given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $422.18.

AppLovin Stock Up 8.2 %

AppLovin stock opened at $510.13 on Friday. AppLovin Co. has a twelve month low of $52.75 and a twelve month high of $525.15. The stock’s fifty day simple moving average is $351.33 and its 200-day simple moving average is $230.42. 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 firm has a market capitalization of $171.19 billion, a P/E ratio of 154.59, a P/E/G ratio of 3.10 and a beta of 2.30.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. As a group, equities analysts expect that AppLovin Co. will post 4.09 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the sale, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Herald Y. Chen sold 99,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the sale, the director now directly owns 621,209 shares in the company, valued at $204,688,365.50. This represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 828,991 shares of company stock valued at $267,640,144. 14.69% of the stock is currently owned by company insiders.

About AppLovin

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.