Whittier Trust Co. of Nevada Inc. Invests $41,000 in AppLovin Co. (NASDAQ:APP)

Whittier Trust Co. of Nevada Inc. acquired a new stake in AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 126 shares of the company’s stock, valued at approximately $41,000.

Other large investors also recently modified their holdings of the company. GHP Investment Advisors Inc. acquired a new stake in AppLovin during the fourth quarter worth approximately $25,000. Riverview Trust Co boosted its holdings in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares in the last quarter. Hemington Wealth Management grew its position in shares of 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. Fifth Third Bancorp increased its stake in shares of AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after acquiring an additional 62 shares in the last quarter. Finally, Smithfield Trust Co acquired a new position in shares of AppLovin during the 4th quarter valued at $32,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Price Performance

AppLovin stock opened at $339.72 on Tuesday. The stock has a market cap of $115.49 billion, a P/E ratio of 74.83, a P/E/G ratio of 3.02 and a beta of 2.33. 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’s 50 day moving average price is $354.31 and its two-hundred day moving average price is $278.37. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data 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%. On average, equities analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Analyst Ratings Changes

APP has been the subject of several research analyst reports. Macquarie lifted their price target on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. Oppenheimer reiterated an “outperform” rating and issued a $560.00 price target (up previously from $480.00) on shares of AppLovin in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their price objective on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Citigroup increased their target price on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $438.28.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by company 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.