Independent Solutions Wealth Management LLC Invests $3.94 Million in AppLovin Co. (NASDAQ:APP)

Independent Solutions Wealth Management LLC bought a new position in AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,156 shares of the company’s stock, valued at approximately $3,936,000.

A number of other institutional investors have also recently bought and sold shares of APP. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin in the 4th quarter worth $25,000. Riverview Trust Co increased its stake in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after acquiring an additional 82 shares during the last quarter. Hemington Wealth Management raised its holdings in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the period. Fifth Third Bancorp lifted its stake in shares of 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 purchasing an additional 62 shares in the last quarter. Finally, Smithfield Trust Co purchased a new stake in shares of AppLovin during the 4th quarter worth about $32,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APP has been the topic of several research reports. Wells Fargo & Company set a $538.00 price target on shares of AppLovin and gave the company an “overweight” rating in a report on Thursday, February 27th. Oppenheimer reissued an “outperform” rating and issued a $560.00 target price (up previously from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Arete Research set a $200.00 price target on shares of AppLovin in a research report on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Monday. Finally, Citigroup upped their target price on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $438.28.

AppLovin Trading Up 3.3 %

NASDAQ APP opened at $306.74 on Friday. The firm’s 50 day moving average price is $353.92 and its two-hundred day moving average price is $272.44. 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 twelve month low of $60.67 and a twelve month high of $525.15. The stock has a market cap of $104.28 billion, a price-to-earnings ratio of 67.56, a PEG ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results 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 188.55% and a net margin of 33.54%. Equities analysts anticipate that AppLovin Co. will post 6.87 EPS for the current year.

Insider Activity

In related news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock worth $106,401,841 in the last 90 days. Company 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.