1,486 Shares in AppLovin Co. (NASDAQ:APP) Acquired by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC acquired a new position in AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,486 shares of the company’s stock, valued at approximately $481,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JFS Wealth Advisors LLC lifted its holdings in AppLovin by 38.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after buying an additional 29 shares during the period. Truvestments Capital LLC lifted its holdings in AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after buying an additional 38 shares during the period. National Bank of Canada FI lifted its holdings in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after buying an additional 39 shares during the period. Hemington Wealth Management lifted its holdings in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in AppLovin by 19.7% during the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after buying an additional 53 shares during the period. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of APP opened at $292.89 on Friday. The business’s 50-day moving average is $357.00 and its two-hundred day moving average is $266.70. The company has a market capitalization of $99.57 billion, a P/E ratio of 64.51, a P/E/G ratio of 3.02 and a beta of 2.33. 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 Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Research analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Arash Adam Foroughi sold 44,400 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the sale, the chief executive officer now directly owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 322,871 shares of company stock valued at $111,401,882. Company insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

APP has been the subject of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Jefferies Financial Group increased their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Macquarie increased their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Loop Capital increased their price objective on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus increased their price objective on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $438.28.

About AppLovin

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.