Tcfg Wealth Management LLC Makes New $369,000 Investment in AppLovin Co. (NASDAQ:APP)

Tcfg Wealth Management LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,139 shares of the company’s stock, valued at approximately $369,000.

Several other institutional investors also recently bought and sold shares of the company. Townsquare Capital LLC boosted its position in AppLovin by 64.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after acquiring an additional 3,126 shares in the last quarter. Second Half Financial Partners LLC bought a new stake in AppLovin during the 3rd quarter valued at $224,000. State Street Corp boosted its position in AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after acquiring an additional 428,419 shares in the last quarter. Eagle Asset Management Inc. boosted its position in AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after acquiring an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management boosted its position in AppLovin by 328.1% during the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after acquiring an additional 81,331 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Performance

NASDAQ APP opened at $510.13 on Friday. The stock has a 50-day simple moving average of $351.33 and a two-hundred day simple moving average of $230.42. The firm has a market capitalization of $171.19 billion, a P/E ratio of 154.59, a PEG ratio of 3.10 and a beta of 2.30. AppLovin Co. has a fifty-two week low of $52.75 and a fifty-two week high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. On average, equities analysts forecast that AppLovin Co. will post 4.09 earnings per share for the current year.

Insider Activity at AppLovin

In related news, CFO Herald Y. Chen sold 400 shares of AppLovin stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the transaction, the chief financial officer now owns 207,649 shares in the company, valued at $76,032,757.84. The trade was a 0.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig Scott Billings sold 18,000 shares of AppLovin stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the transaction, the director now owns 2,987 shares of the company’s stock, valued at approximately $952,673.78. This represents a 85.77 % 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 in the last 90 days. Corporate insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on APP shares. Benchmark increased their target price on AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research report on Thursday. Loop Capital raised their price objective on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Macquarie raised their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $422.18.

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.