AppLovin Co. (NASDAQ:APP) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital increased its holdings in shares of AppLovin Co. (NASDAQ:APP) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,322 shares of the company’s stock after purchasing an additional 277 shares during the quarter. Wedmont Private Capital’s holdings in AppLovin were worth $2,013,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APP. Capital Performance Advisors LLP purchased a new position in AppLovin during the third quarter worth about $25,000. Meeder Asset Management Inc. purchased a new position in shares of AppLovin during the 3rd quarter worth approximately $27,000. DT Investment Partners LLC acquired a new stake in AppLovin in the 3rd quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin during the third quarter worth $29,000. Finally, HM Payson & Co. boosted its position in shares of AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions 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 transaction, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. The trade was a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Herald Y. Chen sold 99,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 621,209 shares of the company’s stock, valued at approximately $204,688,365.50. This represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 888,867 shares of company stock worth $284,773,062. Corporate insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on APP shares. Piper Sandler initiated coverage on AppLovin in a report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price objective on the stock. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Wedbush restated an “outperform” rating and issued a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Stifel Nicolaus increased their target price on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $338.06.

AppLovin Stock Down 2.4 %

APP stock traded down $7.51 during trading on Monday, hitting $310.97. 2,340,414 shares of the company’s stock were exchanged, compared to its average volume of 4,322,216. The stock has a market capitalization of $104.36 billion, a price-to-earnings ratio of 94.23, a PEG ratio of 4.17 and a beta of 2.29. AppLovin Co. has a 52-week low of $39.43 and a 52-week high of $417.64. 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 business has a 50-day moving average price of $318.41 and a two-hundred day moving average price of $181.16.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 6th. The company reported $1.25 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 for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm posted $0.30 EPS. The company’s revenue was up 38.6% on a year-over-year basis. As a group, equities research analysts expect that AppLovin Co. will post 4.06 EPS 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.