Alta Wealth Advisors LLC Boosts Stake in AppLovin Co. (NASDAQ:APP)

Alta Wealth Advisors LLC boosted its stake in shares of AppLovin Co. (NASDAQ:APP) by 17.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,823 shares of the company’s stock after buying an additional 276 shares during the quarter. Alta Wealth Advisors LLC’s holdings in AppLovin were worth $590,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of AppLovin during the third quarter worth $25,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin in the third quarter worth approximately $27,000. Meeder Asset Management Inc. purchased a new stake in AppLovin in the third quarter worth $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin in the third quarter worth about $29,000. Finally, Fifth Third Bancorp increased its position in shares of AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after acquiring an additional 62 shares during the period. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the company’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 value of $5,000,040.97. Following the transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at approximately $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 ninety days, insiders sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

APP has been the topic of several research reports. Piper Sandler assumed coverage on AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target on the stock. Jefferies Financial Group increased their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Loop Capital increased their price objective on AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a report on Monday, December 16th. Macquarie boosted their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $366.29.

AppLovin Trading Down 0.2 %

Shares of AppLovin stock opened at $365.51 on Friday. The stock has a market cap of $122.66 billion, a PE ratio of 110.76, a price-to-earnings-growth ratio of 2.97 and a beta of 2.29. The firm has a fifty day moving average price of $340.85 and a 200 day moving average price of $205.26. AppLovin Co. has a 1 year low of $40.71 and a 1 year high of $417.64. 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 released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the business posted $0.30 EPS. The company’s revenue was up 38.6% on a year-over-year basis. Equities research analysts predict that AppLovin Co. will post 4.09 earnings per share for the current 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.