Proficio Capital Partners LLC Takes $153.52 Million Position in AppLovin Co. (NASDAQ:APP)

Proficio Capital Partners LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 474,087 shares of the company’s stock, valued at approximately $153,524,000. Proficio Capital Partners LLC owned approximately 0.14% of AppLovin as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. JFS Wealth Advisors LLC grew its holdings in AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after acquiring an additional 29 shares during the period. 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 during the last quarter. Hemington Wealth Management grew its stake in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the period. Versant Capital Management Inc increased its holdings in AppLovin by 19.7% in the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after purchasing an additional 53 shares during the last quarter. Finally, Great Valley Advisor Group Inc. lifted its stake in AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock valued at $370,000 after buying an additional 60 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. UBS Group lifted their price target on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group upped their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Piper Sandler lifted their target price on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $452.29.

Insider Activity at AppLovin

In other news, Director Dawson Alyssa Harvey sold 500 shares of AppLovin stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $406.27, for a total transaction of $203,135.00. Following the sale, the director now directly owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction 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. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 255,372 shares of company stock valued at $92,519,099. 14.69% of the stock is owned by insiders.

AppLovin Price Performance

APP stock opened at $331.00 on Thursday. The company’s 50-day moving average price is $368.06 and its two-hundred day moving average price is $250.75. AppLovin Co. has a 12 month low of $57.40 and a 12 month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market cap of $111.08 billion, a P/E ratio of 72.91, a P/E/G ratio of 3.02 and a beta of 2.30.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share 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%. On average, analysts anticipate that AppLovin Co. will post 6.87 earnings per share 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.