Parcion Private Wealth LLC Makes New Investment in AppLovin Co. (NASDAQ:APP)

Parcion Private Wealth LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,131 shares of the company’s stock, valued at approximately $366,000.

A number of other institutional investors also recently bought and sold shares of the company. Townsquare Capital LLC raised its stake in shares of AppLovin by 64.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after acquiring an additional 3,126 shares during the period. Second Half Financial Partners LLC purchased a new stake in shares of AppLovin in the 3rd quarter valued at approximately $224,000. State Street Corp raised its stake 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 valued at $703,406,000 after acquiring an additional 428,419 shares during the period. Eagle Asset Management Inc. raised its stake in shares of 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 acquiring an additional 500,407 shares during the period. Finally, Zacks Investment Management raised its stake in shares of AppLovin by 328.1% in the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after acquiring an additional 81,331 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on APP shares. Stifel Nicolaus boosted their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. UBS Group lifted their price objective on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Citigroup lifted their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Finally, Wells Fargo & Company lifted their price objective on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $430.41.

AppLovin Trading Down 0.4 %

Shares of AppLovin stock opened at $494.17 on Thursday. The company has a fifty day simple moving average of $361.30 and a 200-day simple moving average of $239.37. AppLovin Co. has a 12-month low of $54.50 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 $165.84 billion, a price-to-earnings ratio of 108.85, a PEG ratio of 3.84 and a beta of 2.30.

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 the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, equities analysts forecast that AppLovin Co. will post 6.64 EPS for the current fiscal year.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $32,620,500.00. Following the transaction, the director now owns 621,209 shares of the company’s stock, valued at approximately $204,688,365.50. The trade was a 13.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 217,403 shares of company stock worth $72,325,024 in the last 90 days. 14.69% of the stock is owned by 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.