AppLovin Co. (NASDAQ:APP) Shares Acquired by JFS Wealth Advisors LLC

JFS Wealth Advisors LLC lifted its stake in shares of AppLovin Co. (NASDAQ:APP) by 38.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 105 shares of the company’s stock after purchasing an additional 29 shares during the period. JFS Wealth Advisors LLC’s holdings in AppLovin were worth $34,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in APP. Capital Performance Advisors LLP acquired a new position in shares of AppLovin during the 3rd quarter worth $25,000. GHP Investment Advisors Inc. acquired a new position in AppLovin during the fourth quarter worth $25,000. DT Investment Partners LLC purchased a new stake in AppLovin during the third quarter worth $27,000. Meeder Asset Management Inc. acquired a new stake in AppLovin in the third quarter valued at $27,000. Finally, Raleigh Capital Management Inc. purchased a new position in shares of AppLovin in the third quarter valued at $29,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on APP. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Oppenheimer reissued an “outperform” rating and set a $560.00 price objective (up from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Macquarie upped their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their target price on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Citigroup boosted their price target on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $422.18.

AppLovin Trading Down 2.8 %

Shares of APP opened at $496.07 on Wednesday. The stock’s fifty day simple moving average is $358.18 and its 200 day simple moving average is $237.58. AppLovin Co. has a twelve month low of $54.50 and a twelve 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 firm has a market capitalization of $166.48 billion, a P/E ratio of 150.33, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30.

AppLovin (NASDAQ:APP) last released its quarterly earnings data 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 122.24% and a net margin of 26.85%. On average, equities research analysts forecast that AppLovin Co. will post 4.09 earnings per share for the current year.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer now owns 3,919,024 shares in the company, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the sale, the director now owns 2,987 shares of the company’s stock, valued at approximately $952,673.78. This trade represents a 85.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 828,991 shares of company stock worth $267,640,144 over the last ninety days. 14.69% of the stock is 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.