Amplius Wealth Advisors LLC Invests $238,000 in AppLovin Co. (NASDAQ:APP)

Amplius Wealth Advisors LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 736 shares of the company’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in AppLovin by 27.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,494,516 shares of the company’s stock worth $124,372,000 after buying an additional 322,563 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in AppLovin by 13.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,352 shares of the company’s stock worth $933,000 after purchasing an additional 1,355 shares in the last quarter. Amalgamated Bank lifted its position in AppLovin by 44.9% in the second quarter. Amalgamated Bank now owns 17,725 shares of the company’s stock valued at $1,475,000 after purchasing an additional 5,490 shares during the period. Intech Investment Management LLC lifted its position in AppLovin by 95.1% in the second quarter. Intech Investment Management LLC now owns 22,779 shares of the company’s stock valued at $1,896,000 after purchasing an additional 11,102 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in AppLovin by 87.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,529 shares of the company’s stock valued at $127,000 after purchasing an additional 715 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wedbush reissued an “outperform” rating and issued a $270.00 price target (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Macquarie boosted their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their price target on shares of AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a report on Friday, January 10th. BTIG Research boosted their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Loop Capital increased their target price on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $338.06.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the sale, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Herald Y. Chen sold 400 shares of AppLovin stock in a transaction 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 transaction, the chief financial officer now owns 207,649 shares in the company, valued at $76,032,757.84. The trade was a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 in the last ninety days. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $342.34 on Tuesday. AppLovin Co. has a 1-year low of $40.71 and a 1-year high of $417.64. The firm has a 50 day simple moving average of $331.86 and a 200-day simple moving average of $191.58. The firm has a market cap of $114.89 billion, a PE ratio of 103.74, a P/E/G ratio of 2.68 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin’s revenue was up 38.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. On average, equities analysts expect that AppLovin Co. will post 4.06 EPS for the current year.

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.