Opinicus Capital Inc. Buys New Stake in AppLovin Co. (NASDAQ:APP)

Opinicus Capital Inc. purchased a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, Holdings Channel reports. The fund purchased 1,363 shares of the company’s stock, valued at approximately $441,000.

Several other hedge funds and other institutional investors have also modified their holdings of APP. Capital Performance Advisors LLP purchased a new stake in AppLovin during the 3rd quarter worth approximately $25,000. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin during the fourth quarter worth $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the third quarter valued at $27,000. Meeder Asset Management Inc. purchased a new position in AppLovin in the third quarter valued at $27,000. Finally, Raleigh Capital Management Inc. purchased a new stake in AppLovin during the 3rd quarter worth about $29,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on APP shares. Benchmark began coverage on AppLovin in a research report on Friday, January 10th. They set a “buy” rating and a $375.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Loop Capital increased their target price on AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Jefferies Financial Group lifted their price target on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $366.29.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the sale, the insider now directly owns 405,676 shares in the company, valued at $143,670,155.40. This trade represents a 4.23 % 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 over the last quarter. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Down 1.3 %

Shares of NASDAQ:APP opened at $375.72 on Friday. The company has a market cap of $126.09 billion, a price-to-earnings ratio of 113.85, a PEG ratio of 3.00 and a beta of 2.30. AppLovin Co. has a fifty-two week low of $45.12 and a fifty-two week high of $417.64. The firm’s 50-day simple moving average is $346.12 and its 200-day simple moving average is $217.34. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. As a group, equities research analysts predict that AppLovin Co. will post 4.09 earnings per share for the current year.

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.