Proficio Capital Partners LLC Purchases New Shares in AppLovin Co. (NASDAQ:APP)

Proficio Capital Partners LLC acquired a new position in AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,464 shares of the company’s stock, valued at approximately $474,000.

Other large investors have also recently made changes to their positions in the company. JFS Wealth Advisors LLC raised its holdings in AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after buying an additional 29 shares during the period. National Bank of Canada FI increased its position in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after acquiring an additional 39 shares during the last quarter. Hemington Wealth Management raised its stake in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Versant Capital Management Inc lifted its holdings in shares of AppLovin by 19.7% in the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after acquiring an additional 53 shares during the last quarter. Finally, Great Valley Advisor Group Inc. boosted its stake in shares of AppLovin by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after purchasing an additional 60 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock valued at $106,401,841 over the last quarter. 14.69% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

APP has been the topic of a number of recent analyst reports. Arete Research set a $200.00 price objective on shares of AppLovin in a research report on Wednesday, March 5th. Stifel Nicolaus increased their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Jefferies Financial Group boosted their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Oppenheimer reiterated an “outperform” rating and issued a $560.00 target price (up previously from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Finally, Loop Capital boosted their target price on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $438.28.

AppLovin Price Performance

NASDAQ APP opened at $339.72 on Tuesday. The company has a market cap of $115.49 billion, a PE ratio of 74.83, a P/E/G ratio of 3.02 and a beta of 2.33. The firm’s 50 day moving average price is $354.31 and its 200-day moving average price is $278.37. 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 Co. has a 52-week low of $60.67 and a 52-week high of $525.15.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Sell-side analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

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.