Aviance Capital Partners LLC Purchases 573 Shares of AppLovin Co. (NASDAQ:APP)

Aviance Capital Partners LLC grew its position in AppLovin Co. (NASDAQ:APP) by 28.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,573 shares of the company’s stock after acquiring an additional 573 shares during the quarter. Aviance Capital Partners LLC’s holdings in AppLovin were worth $833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. WCM Investment Management LLC increased its position in shares of AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. FMR LLC increased its position in shares of AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares during the last quarter. SVB Wealth LLC bought a new position in shares of AppLovin during the 4th quarter valued at approximately $1,781,922,000. State Street Corp increased its position in shares of AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after purchasing an additional 428,419 shares during the last quarter. Finally, Baillie Gifford & Co. increased its position in shares of AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the company’s 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 transaction, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 406,447 shares of company stock valued at $140,537,281. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. UBS Group boosted their target price on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Citigroup boosted their price objective on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group boosted their price objective on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $452.29.

AppLovin Price Performance

Shares of APP stock opened at $270.48 on Friday. AppLovin Co. has a twelve month low of $59.30 and a twelve month high of $525.15. The stock has a market capitalization of $90.77 billion, a price-to-earnings ratio of 59.58, a P/E/G ratio of 3.02 and a beta of 2.33. The stock has a fifty day simple moving average of $365.13 and a two-hundred day simple moving average of $259.26. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

AppLovin 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.