Beacon Financial Group Has $526,000 Stock Position in AppLovin Co. (NASDAQ:APP)

Beacon Financial Group lowered its holdings in shares of AppLovin Co. (NASDAQ:APP) by 11.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,474 shares of the company’s stock after selling 191 shares during the period. Beacon Financial Group’s holdings in AppLovin were worth $526,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin in the fourth quarter valued at approximately $25,000. Fifth Third Bancorp raised its stake in 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 during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in AppLovin by 139.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after purchasing an additional 89 shares during the last quarter. Capital Performance Advisors LLP bought a new position in AppLovin during the third quarter worth $25,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of AppLovin in the third quarter valued at $27,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

APP has been the subject of a number of research reports. Citigroup raised their target price on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. The Goldman Sachs Group raised their price objective on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. 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. Finally, Wells Fargo & Company upped their price objective on AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $366.29.

AppLovin Stock Up 1.4 %

APP stock opened at $380.32 on Thursday. AppLovin Co. has a 52 week low of $45.12 and a 52 week high of $417.64. The business has a 50-day simple moving average of $347.30 and a 200 day simple moving average of $224.62. 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 has a market cap of $127.63 billion, a PE ratio of 115.25, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. Sell-side analysts anticipate that AppLovin Co. will post 4.09 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction that occurred on 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 sale, the insider now directly owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction 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. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 828,991 shares of company stock worth $267,640,144 over the last three months. Corporate insiders own 14.69% of the company’s stock.

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.