Independent Advisor Alliance Takes $518,000 Position in AppLovin Co. (NASDAQ:APP)

Independent Advisor Alliance acquired a new stake in AppLovin Co. (NASDAQ:APP) in the 4th quarter, Holdings Channel.com reports. The fund acquired 1,600 shares of the company’s stock, valued at approximately $518,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Daiwa Securities Group Inc. increased its position in AppLovin by 2.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 83,633 shares of the company’s stock valued at $27,082,000 after purchasing an additional 2,327 shares during the period. Argentarii LLC acquired a new stake in AppLovin during the 4th quarter valued at approximately $841,000. Amundi increased its position in AppLovin by 67.1% during the 4th quarter. Amundi now owns 603,766 shares of the company’s stock valued at $198,760,000 after purchasing an additional 242,539 shares during the period. PNC Financial Services Group Inc. increased its position in AppLovin by 6.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,182 shares of the company’s stock valued at $2,650,000 after purchasing an additional 464 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in AppLovin during the 4th quarter valued at approximately $12,118,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 44,400 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the sale, the chief executive officer now directly owns 2,869,492 shares of the company’s stock, valued at approximately $1,179,045,567.88. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 322,871 shares of company stock worth $111,401,882. Corporate insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on APP shares. Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the company an “overweight” rating in a research report on Thursday, February 27th. Macquarie increased their price target on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Piper Sandler increased their price target on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. UBS Group increased their price target on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Loop Capital increased their price target on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $438.28.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $306.85 on Tuesday. 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’s fifty day simple moving average is $356.03 and its two-hundred day simple moving average is $270.72. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The stock has a market cap of $104.32 billion, a PE ratio of 67.59, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, analysts forecast that AppLovin Co. will post 6.87 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.