AppLovin Co. (NASDAQ:APP) Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC boosted its position in AppLovin Co. (NASDAQ:APP) by 9.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,244 shares of the company’s stock after purchasing an additional 190 shares during the period. Parallel Advisors LLC’s holdings in AppLovin were worth $727,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in APP. GHP Investment Advisors Inc. acquired a new stake in AppLovin in the fourth quarter worth approximately $25,000. Meeder Asset Management Inc. acquired a new stake in AppLovin in the third quarter worth approximately $27,000. Riverview Trust Co lifted its position in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares during the period. Hemington Wealth Management lifted its position in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the period. Finally, Fifth Third Bancorp lifted its position in AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Trading Up 3.3 %

Shares of NASDAQ:APP opened at $306.74 on Friday. The stock has a market capitalization of $104.28 billion, a PE ratio of 67.56, a P/E/G ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The firm has a fifty day moving average price of $353.92 and a 200 day moving average price of $272.44. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock worth $106,401,841 over the last ninety days. Company insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on APP shares. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Macquarie increased their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Jefferies Financial Group increased their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Stifel Nicolaus increased their price objective on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Bank of America boosted their target price on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $438.28.

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.