AppLovin Co. (NASDAQ:APP) Shares Purchased by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. boosted its stake in AppLovin Co. (NASDAQ:APP) by 111.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,917 shares of the company’s stock after purchasing an additional 2,594 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in AppLovin were worth $1,592,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in AppLovin during the 3rd quarter worth $25,000. GHP Investment Advisors Inc. acquired a new stake in AppLovin during the 4th quarter worth $25,000. DT Investment Partners LLC acquired a new stake in AppLovin during the 3rd quarter worth $27,000. Meeder Asset Management Inc. acquired a new stake in AppLovin during the 3rd quarter worth $27,000. Finally, Hemington Wealth Management boosted its stake in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Down 7.7 %

Shares of NASDAQ:APP opened at $415.31 on Friday. 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 capitalization of $139.37 billion, a PE ratio of 91.48, a price-to-earnings-growth ratio of 3.28 and a beta of 2.30. The firm’s 50-day moving average is $365.59 and its two-hundred day moving average is $244.47. AppLovin Co. has a 1 year low of $56.45 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on APP shares. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Piper Sandler lifted their price target on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Jefferies Financial Group lifted their price target on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lifted their price target on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $442.18.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the transaction, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 196,302 shares of company stock valued at $65,305,354. 14.69% of the stock is currently owned by corporate insiders.

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.