Whipplewood Advisors LLC Makes New Investment in AppLovin Co. (NASDAQ:APP)

Whipplewood Advisors LLC acquired a new stake in shares of AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,290 shares of the company’s stock, valued at approximately $1,389,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of AppLovin in the 3rd quarter worth $25,000. GHP Investment Advisors Inc. acquired a new stake in AppLovin during the fourth quarter worth about $25,000. Meeder Asset Management Inc. purchased a new position in shares of AppLovin in the 3rd quarter worth about $27,000. Hemington Wealth Management lifted its stake in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Down 12.2 %

APP stock opened at $331.00 on Thursday. 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 firm has a 50 day simple moving average of $368.06 and a 200-day simple moving average of $250.75. The company has a market capitalization of $111.08 billion, a P/E ratio of 72.91, a PEG ratio of 3.02 and a beta of 2.30. AppLovin Co. has a twelve month low of $57.40 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data 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 net margin of 33.54% and a return on equity of 188.55%. On average, equities research analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Arash Adam Foroughi sold 44,400 shares of the firm’s stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 500 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $406.27, for a total transaction of $203,135.00. Following the sale, the director now owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. The trade was a 6.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 255,372 shares of company stock worth $92,519,099. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on APP shares. The Goldman Sachs Group raised their price target on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Thursday, February 13th. UBS Group lifted their target price on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group increased their price target on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company boosted their price objective on AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $442.18.

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.