Precision Wealth Strategies LLC Boosts Stock Holdings in AppLovin Co. (NASDAQ:APP)

Precision Wealth Strategies LLC lifted its holdings in AppLovin Co. (NASDAQ:APP) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,772 shares of the company’s stock after purchasing an additional 64 shares during the period. AppLovin comprises 1.2% of Precision Wealth Strategies LLC’s holdings, making the stock its 19th biggest position. Precision Wealth Strategies LLC’s holdings in AppLovin were worth $1,545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APP. FMR LLC raised its holdings in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after acquiring an additional 1,029,009 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of AppLovin by 31.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after acquiring an additional 560,560 shares in the last quarter. Eagle Asset Management Inc. lifted its position in AppLovin by 2,200.4% during the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after acquiring an additional 500,407 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in AppLovin by 12.8% in the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after acquiring an additional 449,241 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the sale, the chief technology officer now directly owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 888,867 shares of company stock worth $284,773,062. Corporate insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the topic of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Bank of America upped their target price on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Loop Capital raised their price target on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Jefferies Financial Group boosted their price target on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $366.29.

AppLovin Trading Up 1.1 %

Shares of AppLovin stock opened at $369.59 on Friday. 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. The stock has a market cap of $124.03 billion, a PE ratio of 112.00, 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 $341.58 and a 200 day moving average price of $208.06.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. Equities research analysts predict that AppLovin Co. will post 4.09 earnings per share for the current year.

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.