Angeles Wealth Management LLC Takes Position in AppLovin Co. (NASDAQ:APP)

Angeles Wealth Management LLC acquired a new position in AppLovin Co. (NASDAQ:APP) in the fourth quarter, Holdings Channel.com reports. The fund acquired 630 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors have also recently made changes to their positions in the business. National Bank of Canada FI boosted its position in shares of AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after purchasing an additional 39 shares in the last quarter. Versant Capital Management Inc boosted its position 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 purchasing an additional 53 shares in the last quarter. Great Valley Advisor Group Inc. boosted its position in shares of AppLovin by 2.2% in 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 in the last quarter. Fifth Third Bancorp boosted its position in shares of AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares in the last quarter. Finally, Precision Wealth Strategies LLC boosted its position in shares of AppLovin by 1.4% in the 4th quarter. Precision Wealth Strategies LLC now owns 4,772 shares of the company’s stock worth $1,545,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related news, CFO Herald Y. Chen sold 400 shares of AppLovin stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the transaction, the chief financial officer now owns 207,649 shares in the company, valued at $76,032,757.84. The trade was a 0.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig Scott Billings sold 18,000 shares of AppLovin stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the transaction, the director now owns 2,987 shares of the company’s stock, valued at approximately $952,673.78. This represents a 85.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 828,991 shares of company stock worth $267,640,144 in the last 90 days. Corporate insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $384.40 on Tuesday. The stock has a 50-day simple moving average of $347.00 and a two-hundred day simple moving average of $221.43. The firm has a market capitalization of $129.00 billion, a P/E ratio of 116.49, a PEG ratio of 3.10 and a beta of 2.30. AppLovin Co. has a fifty-two week low of $45.12 and a fifty-two week high of $417.64. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Macquarie lifted their price target on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Citigroup lifted their price target on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Loop Capital lifted their price target on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. lifted their price target on AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $366.29.

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.