Wealthcare Advisory Partners LLC Invests $451,000 in AppLovin Co. (NASDAQ:APP)

Wealthcare Advisory Partners LLC acquired a new position in AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,393 shares of the company’s stock, valued at approximately $451,000.

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

Insider Activity

In other news, insider Victoria Valenzuela sold 17,925 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Herald Y. Chen sold 400 shares of AppLovin stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $366.16, for a total transaction of $146,464.00. Following the completion of the sale, the chief financial officer now owns 207,649 shares of the company’s stock, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock valued at $284,773,062 in the last 90 days. Company insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on APP. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and lifted their target price for the company from $103.00 to $150.00 in a report on Monday, October 14th. BTIG Research lifted their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler initiated coverage on shares of AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price on the stock. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Stifel Nicolaus upped their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $338.06.

AppLovin Stock Performance

APP opened at $342.34 on Tuesday. The firm has a market capitalization of $114.89 billion, a PE ratio of 103.74, a PEG ratio of 2.68 and a beta of 2.29. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a twelve month low of $40.71 and a twelve month high of $417.64. The firm’s 50-day moving average price is $331.86 and its 200 day moving average price is $191.58.

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

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.