1,140 Shares in AppLovin Co. (NASDAQ:APP) Bought by Graypoint LLC

Graypoint LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,140 shares of the company’s stock, valued at approximately $369,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of APP. Capital Performance Advisors LLP acquired a new stake in AppLovin in the 3rd quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the third quarter valued at approximately $27,000. DT Investment Partners LLC bought a new stake in shares of AppLovin in the third quarter worth $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin during the third quarter worth $29,000. Finally, HM Payson & Co. grew its position in AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Dawson Alyssa Harvey sold 500 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the transaction, the director now owns 6,684 shares of the company’s stock, valued at $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the sale, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by company insiders.

AppLovin Price Performance

AppLovin stock opened at $318.48 on Friday. The company has a market capitalization of $106.88 billion, a price-to-earnings ratio of 96.51, a PEG ratio of 4.17 and a beta of 2.29. The stock’s 50 day moving average is $318.41 and its 200-day moving average is $180.45. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12 month low of $39.43 and a 12 month high of $417.64.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the business earned $0.30 EPS. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. Equities research analysts expect that AppLovin Co. will post 4.06 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on APP. Bank of America boosted their price target on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Stifel Nicolaus increased their price target on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and increased their price objective for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Finally, Macquarie boosted their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average target price 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.