J.Safra Asset Management Corp Acquires New Shares in AppLovin Co. (NASDAQ:APP)

J.Safra Asset Management Corp acquired a new stake in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 703 shares of the company’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. New York State Teachers Retirement System grew its stake in AppLovin by 97.8% in the third quarter. New York State Teachers Retirement System now owns 14,850 shares of the company’s stock valued at $1,939,000 after purchasing an additional 7,342 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new position in AppLovin in the third quarter valued at about $296,000. Stephens Inc. AR grew its stake in AppLovin by 56.4% in the third quarter. Stephens Inc. AR now owns 6,620 shares of the company’s stock valued at $864,000 after purchasing an additional 2,387 shares during the last quarter. Farther Finance Advisors LLC grew its stake in AppLovin by 150.6% in the third quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company’s stock valued at $133,000 after purchasing an additional 613 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in AppLovin by 2.1% in the third quarter. Janney Montgomery Scott LLC now owns 52,214 shares of the company’s stock valued at $6,817,000 after purchasing an additional 1,084 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insider Activity at AppLovin

In other AppLovin news, CFO Herald Y. Chen sold 400 shares of the business’s stock in a transaction that occurred on 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 directly owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. The trade was a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 406,947 shares of company stock worth $140,740,416 over the last quarter. Insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. UBS Group lifted their target price on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Citigroup lifted their target price on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Wedbush reiterated an “outperform” rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price target on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Four equities research 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 company’s stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $452.29.

AppLovin Price Performance

Shares of NASDAQ APP opened at $327.23 on Wednesday. The business’s 50 day moving average price is $367.35 and its 200 day moving average price is $258.85. The firm has a market cap of $109.82 billion, a P/E ratio of 72.08, a P/E/G ratio of 3.02 and a beta of 2.30. AppLovin Co. has a 52 week low of $59.30 and a 52 week high of $525.15. 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 issued its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, sell-side analysts expect that AppLovin Co. will post 6.87 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.