Western Financial Corp CA Takes Position in AppLovin Co. (NASDAQ:APP)

Western Financial Corp CA acquired a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,644 shares of the company’s stock, valued at approximately $532,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of APP. The Manufacturers Life Insurance Company boosted its holdings in AppLovin by 23.8% during the second quarter. The Manufacturers Life Insurance Company now owns 49,389 shares of the company’s stock valued at $4,110,000 after acquiring an additional 9,508 shares during the period. Algert Global LLC boosted its stake in AppLovin by 34.2% during the 2nd quarter. Algert Global LLC now owns 6,736 shares of the company’s stock valued at $561,000 after purchasing an additional 1,716 shares during the period. NewEdge Advisors LLC increased its position in AppLovin by 13,831.6% in the 2nd quarter. NewEdge Advisors LLC now owns 21,176 shares of the company’s stock worth $1,762,000 after buying an additional 21,024 shares during the period. Truist Financial Corp lifted its holdings in shares of AppLovin by 510.9% during the second quarter. Truist Financial Corp now owns 27,697 shares of the company’s stock worth $2,305,000 after buying an additional 23,163 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of AppLovin by 115.3% in the second quarter. Cetera Investment Advisers now owns 30,619 shares of the company’s stock valued at $2,548,000 after acquiring an additional 16,397 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AppLovin

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction that occurred on 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 sale, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock valued at $284,773,062 over the last three months. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

Shares of APP stock opened at $369.59 on Friday. The firm’s 50 day moving average price is $341.58 and its two-hundred day moving average price is $207.22. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 52-week low of $40.71 and a 52-week high of $417.64. The stock has a market cap of $124.03 billion, a PE ratio of 112.00, a PEG ratio of 2.97 and a beta of 2.29.

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, 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 return on equity of 122.24% and a net margin of 26.85%. The firm’s revenue was up 38.6% on a year-over-year basis. During the same period last year, the company earned $0.30 EPS. As a group, analysts forecast that AppLovin Co. will post 4.09 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on APP. Piper Sandler initiated coverage on shares of AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price on the stock. The Goldman Sachs Group upped their price objective on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Bank of America lifted their target price on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Benchmark began coverage on AppLovin in a report on Friday, January 10th. They issued a “buy” rating and a $375.00 price target for the company. Finally, BTIG Research lifted their price objective on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $366.29.

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.