Stonegate Investment Group LLC Takes Position in AppLovin Co. (NASDAQ:APP)

Stonegate Investment Group LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, Holdings Channel.com reports. The fund bought 826 shares of the company’s stock, valued at approximately $267,000.

Other large investors have also recently bought and sold shares of the company. Fifth Third Bancorp increased its holdings in shares of AppLovin by 172.2% during the 4th 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. MassMutual Private Wealth & Trust FSB increased its stake in AppLovin by 139.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after acquiring an additional 89 shares during the period. Capital Performance Advisors LLP acquired a new position in AppLovin in the 3rd quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin in the 3rd quarter worth approximately $27,000. Finally, DT Investment Partners LLC acquired a new stake in shares of AppLovin during the 3rd quarter worth approximately $27,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Performance

AppLovin stock opened at $360.75 on Wednesday. AppLovin Co. has a 12-month low of $40.71 and a 12-month high of $417.64. The stock has a 50-day simple moving average of $339.10 and a 200 day simple moving average of $203.00. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $121.06 billion, a price-to-earnings ratio of 109.32, a P/E/G ratio of 2.96 and a beta of 2.29.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 earnings per share. On average, research analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the transaction, the director now directly owns 6,684 shares in the company, valued at $2,715,508.68. This represents a 6.96 % 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, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the sale, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 888,867 shares of company stock worth $284,773,062. Insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wedbush restated an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Oppenheimer reissued an “outperform” rating and issued a $480.00 target price on shares of AppLovin in a research note on Tuesday, December 10th. Stifel Nicolaus increased their price target on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, BTIG Research lifted their price objective on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Four 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $366.29.

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.