SMART Wealth LLC Buys New Position in AppLovin Co. (NASDAQ:APP)

SMART Wealth LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,242 shares of the company’s stock, valued at approximately $402,000.

Several other institutional investors have also added to or reduced their stakes in APP. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of AppLovin by 9.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,301 shares of the company’s stock worth $176,261,000 after buying an additional 45,767 shares during the period. GHP Investment Advisors Inc. purchased a new position in AppLovin in the 4th quarter worth $25,000. Mirae Asset Global Investments Co. Ltd. lifted its position in AppLovin by 454.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,560 shares of the company’s stock worth $25,330,000 after acquiring an additional 61,933 shares during the period. Jackson Wealth Management LLC purchased a new stake in AppLovin during the 4th quarter valued at about $468,000. Finally, Yousif Capital Management LLC grew its stake in AppLovin by 4.0% during the 4th quarter. Yousif Capital Management LLC now owns 3,425 shares of the company’s stock valued at $1,109,000 after purchasing an additional 132 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 99,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the sale, the director now owns 621,209 shares in the company, valued at approximately $204,688,365.50. This represents a 13.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 over the last 90 days. Corporate insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on APP shares. JPMorgan Chase & Co. lifted their target price on AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Wedbush restated an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. The Goldman Sachs Group increased their price objective on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. BTIG Research raised their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Macquarie upped their price target on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. 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 stock. According to data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $366.29.

AppLovin Stock Up 3.4 %

AppLovin stock opened at $380.63 on Friday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market capitalization of $127.74 billion, a PE ratio of 115.34, a price-to-earnings-growth ratio of 3.00 and a beta of 2.30. The business has a 50 day simple moving average of $345.34 and a 200-day simple moving average of $215.31. AppLovin Co. has a 12 month low of $45.12 and a 12 month high of $417.64.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. On average, analysts anticipate that AppLovin Co. will post 4.09 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.