Measured Wealth Private Client Group LLC Purchases Shares of 3,030 AppLovin Co. (NASDAQ:APP)

Measured Wealth Private Client Group LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,030 shares of the company’s stock, valued at approximately $210,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in AppLovin by 8.5% in the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock valued at $723,245,000 after buying an additional 1,411,453 shares during the period. Sapient Capital LLC bought a new stake in AppLovin in the fourth quarter valued at about $165,057,000. First Trust Advisors LP raised its position in AppLovin by 42.6% in the fourth quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock worth $91,605,000 after purchasing an additional 686,258 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in AppLovin by 4,805.9% during the third quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock worth $56,050,000 after purchasing an additional 1,374,066 shares during the period. Finally, Norges Bank acquired a new stake in AppLovin during the fourth quarter valued at approximately $43,973,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday, May 9th. Citigroup boosted their price objective on AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. TheStreet upgraded AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. Finally, BTIG Research upped their price target on shares of AppLovin from $87.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. One equities 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.72.

AppLovin Price Performance

Shares of APP opened at $83.68 on Wednesday. AppLovin Co. has a fifty-two week low of $25.24 and a fifty-two week high of $88.50. The firm has a market capitalization of $27.53 billion, a PE ratio of 49.81, a PEG ratio of 1.41 and a beta of 1.86. The company’s 50-day moving average is $79.73 and its 200-day moving average is $63.91. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11.

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

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 50,000 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 471,560 shares in the company, valued at approximately $35,371,715.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Victoria Valenzuela sold 50,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 471,560 shares in the company, valued at approximately $35,371,715.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dawson Alyssa Harvey sold 4,371 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $75.65, for a total transaction of $330,666.15. Following the completion of the sale, the director now owns 11,565 shares in the company, valued at approximately $874,892.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,741,886 shares of company stock worth $1,478,219,330. Company insiders own 14.69% of the company’s stock.

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.