Wealth Enhancement Advisory Services LLC Buys 19,381 Shares of AppLovin Co. (NASDAQ:APP)

Wealth Enhancement Advisory Services LLC grew its stake in shares of AppLovin Co. (NASDAQ:APP) by 39.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,563 shares of the company’s stock after purchasing an additional 19,381 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in AppLovin were worth $4,746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Gulf International Bank UK Ltd bought a new stake in AppLovin in the 1st quarter worth $1,131,000. CWM LLC increased its holdings in AppLovin by 16.3% during the 4th quarter. CWM LLC now owns 2,864 shares of the company’s stock valued at $114,000 after purchasing an additional 401 shares during the period. Contrarius Investment Management Ltd bought a new position in AppLovin during the 4th quarter valued at approximately $7,334,000. Dynamic Technology Lab Private Ltd purchased a new stake in AppLovin in the 4th quarter worth approximately $2,284,000. Finally, Los Angeles Capital Management LLC grew its position in shares of AppLovin by 76.8% in the 1st quarter. Los Angeles Capital Management LLC now owns 415,501 shares of the company’s stock worth $28,761,000 after buying an additional 180,459 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on APP. Morgan Stanley boosted their price target on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. Citigroup raised their target price on AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Jefferies Financial Group upped their price target on AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, May 9th. Finally, Wedbush boosted their target price on shares of AppLovin from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.72.

AppLovin Price Performance

NASDAQ APP opened at $84.82 on Tuesday. AppLovin Co. has a one year low of $25.24 and a one year high of $88.50. The stock has a 50-day moving average of $79.48 and a 200 day moving average of $63.60. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11. The company has a market capitalization of $27.91 billion, a price-to-earnings ratio of 50.49, a PEG ratio of 1.41 and a beta of 1.86.

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

Insider Activity

In other AppLovin news, Director Dawson Alyssa Harvey sold 4,371 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $75.65, for a total value of $330,666.15. Following the transaction, the director now owns 11,565 shares of the company’s stock, valued at $874,892.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AppLovin news, Director Dawson Alyssa Harvey sold 4,371 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $75.65, for a total value of $330,666.15. Following the transaction, the director now directly owns 11,565 shares in the company, valued at $874,892.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 2,890 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $81.37, for a total transaction of $235,159.30. Following the sale, the insider now directly owns 448,490 shares of the company’s stock, valued at approximately $36,493,631.30. The disclosure for this sale can be found here. Insiders have sold 17,741,886 shares of company stock valued at $1,478,219,330 in the last ninety days. 14.69% of the stock is currently owned by company insiders.

About AppLovin

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.