Jackson Wealth Management LLC Makes New $468,000 Investment in AppLovin Co. (NASDAQ:APP)

Jackson Wealth Management LLC purchased 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. The institutional investor purchased 1,445 shares of the company’s stock, valued at approximately $468,000.

Several other large investors have also recently modified their holdings of APP. Capital Performance Advisors LLP acquired a new stake in AppLovin in the third quarter valued at $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the third quarter valued at about $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the third quarter valued at about $27,000. Raleigh Capital Management Inc. acquired a new position in shares of AppLovin in the third quarter worth approximately $29,000. Finally, Fifth Third Bancorp lifted its stake in shares of AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after acquiring an additional 62 shares during the period. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. BTIG Research boosted their target price on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, Citigroup boosted their price objective on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Four investment 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 company. Based on data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $366.29.

AppLovin Stock Performance

NASDAQ APP opened at $380.26 on Wednesday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a fifty day simple moving average of $343.50 and a 200 day simple moving average of $213.07. AppLovin Co. has a 12-month low of $44.01 and a 12-month high of $417.64. The company has a market cap of $127.61 billion, a P/E ratio of 115.23, a PEG ratio of 3.00 and a beta of 2.30.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. Sell-side analysts predict that AppLovin Co. will post 4.09 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, Director Herald Y. Chen sold 99,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at $204,688,365.50. This represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the sale, the insider now directly owns 372,205 shares of the company’s stock, valued at $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 888,867 shares of company stock worth $284,773,062. 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.