Certuity LLC Makes New $416,000 Investment in AppLovin Co. (NASDAQ:APP)

Certuity LLC acquired a new stake in AppLovin Co. (NASDAQ:APP) in the fourth quarter, Holdings Channel reports. The fund acquired 1,285 shares of the company’s stock, valued at approximately $416,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the third quarter valued at approximately $25,000. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin during the 4th quarter valued at $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin during the 3rd quarter worth $27,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin in the third quarter worth $27,000. Finally, Raleigh Capital Management Inc. acquired a new position in AppLovin in the third quarter valued at about $29,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity

In related news, CFO Herald Y. Chen sold 400 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 828,991 shares of company stock valued at $267,640,144. Company insiders own 14.69% of the company’s stock.

AppLovin Trading Up 1.4 %

Shares of NASDAQ APP opened at $380.32 on Thursday. The firm has a 50 day moving average price of $347.30 and a two-hundred day moving average price of $224.62. The stock has a market cap of $127.63 billion, a P/E ratio of 115.25, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. AppLovin Co. has a 52-week low of $45.12 and a 52-week high of $417.64. 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 posted 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%. As a group, equities analysts forecast that AppLovin Co. will post 4.09 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on APP shares. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Piper Sandler initiated coverage on shares of AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price objective for the company. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the company from $80.00 to $280.00 in a report on Friday, November 8th. Wedbush reissued an “outperform” rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, Bank of America upped their price objective on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $366.29.

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.