EP Wealth Advisors LLC Boosts Stake in AppLovin Co. (NASDAQ:APP)

EP Wealth Advisors LLC boosted its stake in AppLovin Co. (NASDAQ:APP) by 22.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,204 shares of the company’s stock after buying an additional 1,840 shares during the quarter. EP Wealth Advisors LLC’s holdings in AppLovin were worth $407,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in shares of AppLovin during the 4th quarter worth $764,000. American Trust purchased a new position in shares of AppLovin during the 4th quarter worth $215,000. Quarry LP purchased a new position in shares of AppLovin during the 4th quarter worth $44,000. Contour Asset Management LLC lifted its stake in shares of AppLovin by 104.8% during the 4th quarter. Contour Asset Management LLC now owns 949,752 shares of the company’s stock worth $37,848,000 after purchasing an additional 486,097 shares during the period. Finally, Greenstone Partners & Co. LLC lifted its stake in shares of AppLovin by 3.9% during the 4th quarter. Greenstone Partners & Co. LLC now owns 796,837 shares of the company’s stock worth $31,754,000 after purchasing an additional 29,585 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $80.84 on Wednesday. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a 50-day moving average of $77.81 and a two-hundred day moving average of $60.54. The stock has a market cap of $26.60 billion, a P/E ratio of 48.11, a PEG ratio of 1.31 and a beta of 1.88. AppLovin Co. has a 1-year low of $22.85 and a 1-year high of $88.50.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $973.70 million. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) EPS. On average, research analysts expect that AppLovin Co. will post 2.96 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 50,000 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the transaction, the insider now owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AppLovin news, Director Craig Scott Billings sold 5,620 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $84.97, for a total value of $477,531.40. Following the transaction, the director now owns 1,780 shares of the company’s stock, valued at $151,246.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 50,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the completion of the transaction, the insider now directly owns 471,560 shares in the company, valued at approximately $35,371,715.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,741,886 shares of company stock valued at $1,478,219,330. Insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of research analyst reports. Wedbush upped their price objective on AppLovin from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. The Goldman Sachs Group upped their price objective on AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Stifel Nicolaus upped their price objective on AppLovin from $85.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, May 9th. Finally, Daiwa Capital Markets initiated coverage on AppLovin in a report on Monday, April 15th. They set a “neutral” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $71.72.

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.