Amplius Wealth Advisors LLC Takes Position in AppLovin Co. (NASDAQ:APP)

Amplius Wealth Advisors LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 736 shares of the company’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds have also made changes to their positions in 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 valued at $1,030,462,000 after acquiring an additional 6,801,138 shares in the last quarter. Fred Alger Management LLC bought a new stake in shares of AppLovin in the 2nd quarter worth about $290,655,000. WCM Investment Management LLC raised its stake in shares of AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of AppLovin by 31.3% during the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after purchasing an additional 560,560 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its stake in AppLovin by 2,200.4% in the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Loop Capital increased their target price on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, December 16th. The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $103.00 to $150.00 in a report on Monday, October 14th. Benchmark started coverage on shares of AppLovin in a report on Friday, January 10th. They set a “buy” rating and a $375.00 target price on the stock. BTIG Research raised their price target on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Macquarie boosted their price objective on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Four research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $338.06.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the sale, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. This trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Herald Y. Chen sold 99,000 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the transaction, the director now owns 621,209 shares of the company’s stock, valued at $204,688,365.50. This trade represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock worth $284,773,062 over the last quarter. 14.69% of the stock is currently owned by company insiders.

AppLovin Trading Up 3.1 %

Shares of APP stock opened at $342.34 on Tuesday. AppLovin Co. has a 1 year low of $40.71 and a 1 year high of $417.64. The firm has a market capitalization of $114.89 billion, a PE ratio of 103.74, a price-to-earnings-growth ratio of 2.68 and a beta of 2.29. The stock has a fifty day moving average of $331.86 and a two-hundred day moving average of $191.58. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm posted $0.30 EPS. AppLovin’s revenue was up 38.6% compared to the same quarter last year. As a group, research analysts expect that AppLovin Co. will post 4.06 EPS 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.