AppLovin Co. (NASDAQ:APP) Shares Acquired by Venturi Wealth Management LLC

Venturi Wealth Management LLC raised its stake in shares of AppLovin Co. (NASDAQ:APP) by 4,272.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 481 shares of the company’s stock after purchasing an additional 470 shares during the quarter. Venturi Wealth Management LLC’s holdings in AppLovin were worth $156,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Pinnbrook Capital Management LP acquired a new position in AppLovin during the 4th quarter valued at approximately $3,920,000. CIBC Asset Management Inc increased its stake in AppLovin by 692.3% during the 4th quarter. CIBC Asset Management Inc now owns 61,618 shares of the company’s stock valued at $19,954,000 after purchasing an additional 53,841 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of AppLovin by 6.8% in the fourth quarter. Sanctuary Advisors LLC now owns 13,661 shares of the company’s stock worth $4,424,000 after acquiring an additional 872 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of AppLovin by 2.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 76,751 shares of the company’s stock worth $24,854,000 after acquiring an additional 1,557 shares during the period. Finally, Baillie Gifford & Co. increased its stake in shares of AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after acquiring an additional 4,010,520 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other news, Director Eduardo Vivas sold 30,330 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $330.67, for a total value of $10,029,221.10. Following the transaction, the director now directly owns 90,576 shares of the company’s stock, valued at approximately $29,950,765.92. This trade represents a 25.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the transaction, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 196,302 shares of company stock valued at $65,305,354 over the last ninety days. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on APP. Oppenheimer reiterated an “outperform” rating and issued a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Jefferies Financial Group increased their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Citigroup increased their price objective on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Finally, Wells Fargo & Company increased their price objective on shares of AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Four 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $442.18.

AppLovin Stock Performance

APP opened at $415.31 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market cap of $139.37 billion, a price-to-earnings ratio of 91.48, a PEG ratio of 3.28 and a beta of 2.30. AppLovin Co. has a 52-week low of $56.45 and a 52-week high of $525.15. The firm’s fifty day simple moving average is $365.59 and its two-hundred day simple moving average is $244.47.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data 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%. Equities analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

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.