West Michigan Advisors LLC Purchases Shares of 1,970 AppLovin Co. (NASDAQ:APP)

West Michigan Advisors LLC purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,970 shares of the company’s stock, valued at approximately $638,000.

Several other hedge funds have also added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new position in AppLovin during the 3rd quarter worth $25,000. GHP Investment Advisors Inc. bought a new position in AppLovin during the 4th quarter worth $25,000. Meeder Asset Management Inc. bought a new position in AppLovin during the 3rd quarter worth $27,000. Hemington Wealth Management increased its position in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares during the period. Finally, Fifth Third Bancorp increased its position in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

AppLovin stock opened at $325.78 on Friday. AppLovin Co. has a 12-month low of $57.40 and a 12-month high of $525.15. 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 business’s 50-day moving average price is $367.79 and its two-hundred day moving average price is $252.97. The stock has a market cap of $109.33 billion, a PE ratio of 71.76, a P/E/G ratio of 3.02 and a beta of 2.30.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on APP shares. Piper Sandler increased their price objective on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. UBS Group increased their price objective on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Oppenheimer restated an “outperform” rating and issued a $560.00 price target (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Finally, Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $452.29.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the sale, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the sale, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 224,872 shares of company stock valued at $82,158,554. 14.69% of the stock is currently owned by corporate 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.