Axxcess Wealth Management LLC Raises Position in AppLovin Co. (NASDAQ:APP)

Axxcess Wealth Management LLC raised its holdings in shares of AppLovin Co. (NASDAQ:APP) by 30.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,694 shares of the company’s stock after acquiring an additional 1,316 shares during the quarter. Axxcess Wealth Management LLC’s holdings in AppLovin were worth $1,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of APP. JFS Wealth Advisors LLC lifted its stake in shares of AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after buying an additional 29 shares in the last quarter. Truvestments Capital LLC lifted its stake in shares of AppLovin by 0.7% during the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after buying an additional 38 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after buying an additional 39 shares in the last quarter. Hemington Wealth Management lifted its stake in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after buying an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 in the last three months. Company insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

APP has been the topic of a number of research reports. UBS Group lifted their price target on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Arete Research set a $200.00 price target on shares of AppLovin in a report on Wednesday, March 5th. Citigroup lifted their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Monday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $560.00 price target (up from $480.00) on shares of AppLovin in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Price Performance

APP stock opened at $297.03 on Thursday. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a 50-day moving average price of $354.37 and a 200 day moving average price of $272.20. The stock has a market cap of $100.98 billion, a PE ratio of 65.43, a P/E/G ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Equities research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

AppLovin Company 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.