3,339 Shares in AppLovin Co. (NASDAQ:APP) Acquired by Oxinas Partners Wealth Management LLC

Oxinas Partners Wealth Management LLC purchased a new position in AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,339 shares of the company’s stock, valued at approximately $1,081,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of AppLovin by 139.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock worth $50,000 after purchasing an additional 89 shares during the period. Capital Performance Advisors LLP acquired a new stake in AppLovin in the 3rd quarter valued at $25,000. Meeder Asset Management Inc. acquired a new stake in AppLovin in the 3rd quarter valued at $27,000. DT Investment Partners LLC acquired a new stake in AppLovin in the 3rd quarter valued at $27,000. Finally, Raleigh Capital Management Inc. purchased a new position in AppLovin in the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of AppLovin stock opened at $338.39 on Wednesday. AppLovin Co. has a one year low of $40.71 and a one year high of $417.64. The company has a market cap of $113.56 billion, a PE ratio of 102.54, a P/E/G ratio of 2.80 and a beta of 2.29. 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 business has a 50-day simple moving average of $332.85 and a 200-day simple moving average of $193.35.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 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 the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, equities research analysts forecast that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of research reports. Citigroup raised their price objective on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Wedbush restated an “outperform” rating and issued a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Oppenheimer restated an “outperform” rating and issued a $480.00 price objective on shares of AppLovin in a report on Tuesday, December 10th. Stifel Nicolaus lifted their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Jefferies Financial Group lifted their price target on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $338.06.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the sale, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the sale, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Company 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.