763 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Sovran Advisors LLC

Sovran Advisors LLC acquired a new stake in AppLovin Co. (NASDAQ:APP) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 763 shares of the company’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in APP. Sanctuary Advisors LLC bought a new stake in shares of AppLovin during the second quarter valued at approximately $241,000. CWM LLC lifted its holdings in AppLovin by 40.0% during the 3rd quarter. CWM LLC now owns 4,659 shares of the company’s stock worth $608,000 after buying an additional 1,331 shares in the last quarter. Creative Planning boosted its position in AppLovin by 251.2% in the 3rd quarter. Creative Planning now owns 144,883 shares of the company’s stock valued at $18,914,000 after buying an additional 103,628 shares during the last quarter. Swedbank AB increased its stake in shares of AppLovin by 24.7% in the 3rd quarter. Swedbank AB now owns 96,455 shares of the company’s stock valued at $12,592,000 after buying an additional 19,100 shares during the period. Finally, Vontobel Holding Ltd. raised its position in shares of AppLovin by 5.7% during the third quarter. Vontobel Holding Ltd. now owns 13,178 shares of the company’s stock worth $1,720,000 after acquiring an additional 708 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling

In other AppLovin news, 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 transaction of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This represents a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the transaction, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 828,991 shares of company stock worth $267,640,144 over the last ninety days. Company insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

APP has been the topic of several recent research reports. Wedbush reiterated an “outperform” rating and issued a $270.00 price target (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Oppenheimer reissued an “outperform” rating and set a $560.00 price target (up from $480.00) on shares of AppLovin in a research note on Thursday. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Piper Sandler upped their target price on shares of AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday. Four investment 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, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $422.18.

AppLovin Trading Up 24.0 %

NASDAQ APP opened at $471.67 on Friday. AppLovin Co. has a one year low of $45.59 and a one year high of $525.15. 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 firm has a market cap of $158.29 billion, a P/E ratio of 142.93, a P/E/G ratio of 3.10 and a beta of 2.30. The stock’s 50-day moving average is $349.15 and its 200-day moving average is $226.34.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. Sell-side analysts anticipate that AppLovin Co. will post 4.09 earnings per share for the current fiscal year.

About AppLovin

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.