Simon Quick Advisors LLC Invests $373,000 in AppLovin Co. (NASDAQ:APP)

Simon Quick Advisors LLC acquired a new stake in AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,153 shares of the company’s stock, valued at approximately $373,000.

Other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its holdings in AppLovin by 139.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after buying an additional 89 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in AppLovin in the 3rd quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new position in AppLovin during the third quarter worth $27,000. DT Investment Partners LLC purchased a new stake in AppLovin during the third quarter worth $27,000. Finally, Raleigh Capital Management Inc. acquired a new position in shares of AppLovin during the 3rd quarter worth $29,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APP has been the topic of a number of research reports. Citigroup increased their price objective on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Stifel Nicolaus lifted their price objective on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Jefferies Financial Group raised their price target on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Finally, Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Four investment 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $355.41.

AppLovin Price Performance

APP stock opened at $362.52 on Friday. The company has a market cap of $121.66 billion, a PE ratio of 109.85, a price-to-earnings-growth ratio of 2.77 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. The stock has a 50-day moving average price of $335.97 and a two-hundred day moving average price of $195.69. AppLovin Co. has a 12-month low of $40.71 and a 12-month high of $417.64.

AppLovin (NASDAQ:APP) last issued 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. 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 analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. As a group, research analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the sale, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This trade represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 over the last ninety days. 14.69% of the stock is 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.