703 Shares in AppLovin Co. (NASDAQ:APP) Acquired by J.Safra Asset Management Corp

J.Safra Asset Management Corp purchased a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 703 shares of the company’s stock, valued at approximately $236,000.

Several other large investors have also recently made changes to their positions in the company. JFS Wealth Advisors LLC grew its holdings in shares of AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after purchasing an additional 29 shares during the period. National Bank of Canada FI grew its holdings in shares of AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after purchasing an additional 39 shares during the period. Hemington Wealth Management grew its holdings 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 purchasing an additional 40 shares during the period. Versant Capital Management Inc grew its holdings in shares of AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after purchasing an additional 53 shares during the period. Finally, Great Valley Advisor Group Inc. grew its holdings in shares of AppLovin by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after purchasing an additional 60 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on APP. Bank of America increased their price target on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. BTIG Research increased their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Piper Sandler increased their target price on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company set a $538.00 target price on AppLovin and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $452.29.

AppLovin Price Performance

APP stock opened at $327.23 on Wednesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market capitalization of $109.82 billion, a P/E ratio of 72.08, a P/E/G ratio of 3.02 and a beta of 2.30. The business’s 50-day moving average is $367.35 and its two-hundred day moving average is $258.85. AppLovin Co. has a 1 year low of $59.30 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share 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%. Analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other news, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the sale, the chief financial officer now owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. This trade represents a 0.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dawson Alyssa Harvey sold 500 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the sale, the director now directly owns 6,684 shares in the company, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 406,947 shares of company stock valued at $140,740,416. Corporate insiders own 14.69% of the company’s stock.

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.