HBW Advisory Services LLC Invests $323,000 in AppLovin Co. (NASDAQ:APP)

HBW Advisory Services LLC bought a new stake in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 998 shares of the company’s stock, valued at approximately $323,000.

A number of other institutional investors have also added to or reduced their stakes in APP. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC bought a new stake in AppLovin in the 3rd quarter valued at $27,000. Meeder Asset Management Inc. acquired a new stake in AppLovin during the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin during the third quarter worth $29,000. Finally, Quest Partners LLC acquired a new position in shares of AppLovin in the second quarter valued at $33,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $318.48 on Friday. The company’s 50 day simple moving average is $318.41 and its 200 day simple moving average is $180.45. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 1 year low of $39.43 and a 1 year high of $417.64. The stock has a market capitalization of $106.88 billion, a price-to-earnings ratio of 96.51, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin’s revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 EPS. As a group, research analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Activity

In related news, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the sale, the insider now owns 405,676 shares of the company’s stock, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the transaction, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 888,867 shares of company stock worth $284,773,062. Corporate insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on APP. Macquarie raised their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. 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. Oppenheimer reaffirmed an “outperform” rating and issued a $480.00 target price on shares of AppLovin in a research report on Tuesday, December 10th. Benchmark began coverage on AppLovin in a report on Friday. They set a “buy” rating and a $375.00 price target for the company. Finally, Jefferies Financial Group boosted their price target on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday. Four 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $337.71.

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.