Avantax Planning Partners Inc. Purchases New Holdings in AppLovin Co. (NASDAQ:APP)

Avantax Planning Partners Inc. acquired a new stake in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,449 shares of the company’s stock, valued at approximately $469,000.

Several other institutional investors have also added to or reduced their stakes in APP. Farther Finance Advisors LLC increased its holdings in shares of AppLovin by 150.6% during the third quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company’s stock worth $133,000 after buying an additional 613 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in AppLovin during the third quarter valued at $25,000. Assetmark Inc. boosted its position in shares of AppLovin by 131.8% during the 3rd quarter. Assetmark Inc. now owns 9,637 shares of the company’s stock worth $1,258,000 after purchasing an additional 5,480 shares in the last quarter. Atria Investments Inc bought a new position in shares of AppLovin during the 3rd quarter worth about $574,000. Finally, Legacy Capital Wealth Partners LLC bought a new position in AppLovin in the 3rd quarter valued at about $268,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of APP opened at $257.76 on Wednesday. The business’s fifty day moving average price is $360.57 and its 200 day moving average price is $265.20. AppLovin Co. has a 12-month low of $59.92 and a 12-month high of $525.15. The stock has a market capitalization of $87.63 billion, a PE ratio of 56.78, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Equities research analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on APP shares. The Goldman Sachs Group raised their price target on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Loop Capital raised their price target on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Jefferies Financial Group raised their price target 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. Citigroup raised their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Benchmark raised their price target on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $438.28.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Herald Y. Chen sold 99,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was 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 of the company’s stock, valued at approximately $204,688,365.50. This trade represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 404,371 shares of company stock valued at $139,793,507 in the last 90 days. 14.69% of the stock is currently owned by corporate insiders.

AppLovin 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.