884 Shares in AppLovin Co. (NASDAQ:APP) Bought by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. acquired a new stake in AppLovin Co. (NASDAQ:APP) in the 4th quarter, Holdings Channel reports. The fund acquired 884 shares of the company’s stock, valued at approximately $286,000.

Several other hedge funds also recently made changes to their positions in APP. Capital Performance Advisors LLP acquired a new position in shares of AppLovin in the 3rd quarter valued at $25,000. DT Investment Partners LLC purchased a new position in AppLovin during the 3rd quarter worth $27,000. Meeder Asset Management Inc. acquired a new position in AppLovin in the third quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin in the third quarter valued at about $29,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of AppLovin during the second quarter worth about $34,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on APP shares. BTIG Research boosted their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Macquarie boosted their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Bank of America upped their price target on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Finally, Wedbush restated an “outperform” rating and set a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $355.41.

AppLovin Stock Performance

Shares of APP stock opened at $361.72 on Thursday. The stock has a fifty day moving average price of $334.41 and a 200 day moving average price of $194.53. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market cap of $121.39 billion, a PE ratio of 109.61, a P/E/G ratio of 2.77 and a beta of 2.29. AppLovin Co. has a 1 year low of $40.71 and a 1 year high of $417.64.

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

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the transaction, the chief executive officer now directly owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. This represents a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the sale, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. This trade represents a 13.15 % decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 14.69% of the company’s stock.

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.