Stonebridge Financial Group LLC Purchases Shares of 842 AppLovin Co. (NASDAQ:APP)

Stonebridge Financial Group LLC acquired a new position in AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 842 shares of the company’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in AppLovin in the third quarter worth approximately $25,000. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin in the 4th quarter worth $25,000. DT Investment Partners LLC bought a new position in AppLovin in the 3rd quarter worth $27,000. Meeder Asset Management Inc. purchased a new position in AppLovin during the third quarter valued at $27,000. Finally, Raleigh Capital Management Inc. bought a new stake in AppLovin during the third quarter valued at about $29,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Craig Scott Billings sold 18,000 shares of the 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 sale, the director now directly owns 2,987 shares of the company’s stock, valued at $952,673.78. This represents a 85.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 828,991 shares of company stock worth $267,640,144. Corporate insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $375.25 on Wednesday. The firm has a fifty day simple moving average of $347.17 and a two-hundred day simple moving average of $223.52. 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 stock has a market capitalization of $125.93 billion, a P/E ratio of 113.71, a PEG ratio of 3.10 and a beta of 2.30. AppLovin Co. has a 52 week low of $45.12 and a 52 week high of $417.64.

Analysts Set New Price Targets

APP has been the topic of a number of analyst reports. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Citigroup lifted their price target on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. BTIG Research increased their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Macquarie lifted their target price on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $480.00 price target on shares of AppLovin in a research note on Tuesday, December 10th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.29.

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.