Cyndeo Wealth Partners LLC Buys New Holdings in AppLovin Co. (NASDAQ:APP)

Cyndeo Wealth Partners LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, Holdings Channel.com reports. The firm acquired 1,897 shares of the company’s stock, valued at approximately $614,000.

Several other hedge funds have also recently bought and sold shares of APP. Capital Performance Advisors LLP bought a new position in AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the third quarter worth $27,000. Meeder Asset Management Inc. acquired a new position in shares of AppLovin during the third quarter worth $27,000. Raleigh Capital Management Inc. acquired a new position in shares of AppLovin during the third quarter worth $29,000. Finally, Fifth Third Bancorp lifted its holdings in shares of AppLovin by 172.2% during 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.

Insider Buying and Selling

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock valued at $284,773,062 in the last 90 days. Company insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on APP. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. UBS Group increased their target price on shares of AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus upped their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Jefferies Financial Group upped their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $355.41.

AppLovin Price Performance

APP stock opened at $363.10 on Friday. AppLovin Co. has a one year low of $40.71 and a one year high of $417.64. The company’s fifty day moving average price is $337.41 and its 200-day moving average price is $198.41. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market capitalization of $121.85 billion, a PE ratio of 110.03, a price-to-earnings-growth ratio of 2.96 and a beta of 2.29.

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

AppLovin Company 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.