HB Wealth Management LLC Grows Holdings in AppLovin Co. (NASDAQ:APP)

HB Wealth Management LLC boosted its stake in AppLovin Co. (NASDAQ:APP) by 31.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,380 shares of the company’s stock after purchasing an additional 571 shares during the period. HB Wealth Management LLC’s holdings in AppLovin were worth $771,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in APP. Mercer Global Advisors Inc. ADV raised its holdings in shares of AppLovin by 13.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,352 shares of the company’s stock valued at $933,000 after buying an additional 1,355 shares during the period. Amalgamated Bank grew its position in AppLovin by 44.9% in the 2nd quarter. Amalgamated Bank now owns 17,725 shares of the company’s stock valued at $1,475,000 after acquiring an additional 5,490 shares in the last quarter. Intech Investment Management LLC increased its stake in AppLovin by 95.1% during the second quarter. Intech Investment Management LLC now owns 22,779 shares of the company’s stock worth $1,896,000 after purchasing an additional 11,102 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of AppLovin by 87.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,529 shares of the company’s stock worth $127,000 after purchasing an additional 715 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of AppLovin by 38.3% in the second quarter. Canada Pension Plan Investment Board now owns 31,400 shares of the company’s stock valued at $2,613,000 after purchasing an additional 8,700 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now directly 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 document filed with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction on 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 in the company, 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. Insiders have sold 888,867 shares of company stock valued at $284,773,062 over the last quarter. Company insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $338.39 on Wednesday. The company has a 50-day simple moving average of $332.85 and a 200-day simple moving average of $193.35. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $113.56 billion, a price-to-earnings ratio of 102.54, a PEG ratio of 2.80 and a beta of 2.29. AppLovin Co. has a one year low of $40.71 and a one year high of $417.64.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.30 EPS. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. On average, analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Benchmark began coverage on AppLovin in a report on Friday, January 10th. They issued a “buy” rating and a $375.00 target price on the stock. Finally, Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $280.00 in a report on Friday, November 8th. Four 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $338.06.

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.