Investment House LLC Has $15.35 Million Stake in AppLovin Co. (NASDAQ:APP)

Investment House LLC trimmed its holdings in AppLovin Co. (NASDAQ:APP) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,405 shares of the company’s stock after selling 510 shares during the period. AppLovin accounts for about 0.8% of Investment House LLC’s portfolio, making the stock its 28th biggest holding. Investment House LLC’s holdings in AppLovin were worth $15,351,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin in the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin during the third quarter worth approximately $27,000. Riverview Trust Co increased its stake in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares during the period. Hemington Wealth Management increased its stake in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In related 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 value of $5,000,040.97. Following the completion of the sale, the insider now directly owns 372,205 shares of the company’s stock, valued at $116,526,219.35. The trade was a 4.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 322,871 shares of company stock valued at $111,401,882 in the last 90 days. 14.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group increased their target price on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Loop Capital increased their target price on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Benchmark raised their price objective on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, UBS Group raised their price objective on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $438.28.

AppLovin Trading Down 9.1 %

Shares of APP opened at $278.84 on Wednesday. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The business’s fifty day moving average is $355.01 and its 200-day moving average is $272.03. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market cap of $94.79 billion, a price-to-earnings ratio of 61.42, a PEG ratio of 3.02 and a beta of 2.33.

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, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Equities analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal 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.