Oxinas Partners Wealth Management LLC Invests $1.08 Million in AppLovin Co. (NASDAQ:APP)

Oxinas Partners Wealth Management LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, HoldingsChannel reports. The fund bought 3,339 shares of the company’s stock, valued at approximately $1,081,000.

A number of other hedge funds have also modified their holdings of the business. National Bank of Canada FI grew its position in AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after buying an additional 39 shares during the last quarter. Versant Capital Management Inc lifted its holdings in AppLovin by 19.7% in the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after acquiring an additional 53 shares during the period. Great Valley Advisor Group Inc. lifted its holdings in AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after acquiring an additional 60 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in AppLovin by 139.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after acquiring an additional 89 shares during the period. Finally, HM Payson & Co. lifted its holdings in AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

APP has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Wedbush reissued an “outperform” rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Oppenheimer reissued an “outperform” rating and issued a $480.00 target price on shares of AppLovin in a report on Tuesday, December 10th. Stifel Nicolaus lifted their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Piper Sandler began coverage on AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target for the company. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $338.06.

AppLovin Stock Down 1.2 %

APP opened at $338.39 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 stock has a market capitalization of $113.56 billion, a price-to-earnings ratio of 102.54, a price-to-earnings-growth ratio of 2.80 and a beta of 2.29. The business has a 50-day moving average of $332.85 and a two-hundred day moving average of $193.35. AppLovin Co. has a 12 month low of $40.71 and a 12 month high of $417.64.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. On average, research analysts expect that AppLovin Co. will post 4.06 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the sale, the insider now owns 405,676 shares in the company, valued at approximately $143,670,155.40. The trade was a 4.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock worth $284,773,062 in the last 90 days. 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.