Resonant Capital Advisors LLC Invests $348,000 in AppLovin Co. (NASDAQ:APP)

Resonant Capital Advisors LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,076 shares of the company’s stock, valued at approximately $348,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of APP. Catalina Capital Group LLC acquired a new position in shares of AppLovin during the fourth quarter worth $349,000. McAdam LLC purchased a new position in AppLovin during the 4th quarter worth $406,000. U.S. Capital Wealth Advisors LLC acquired a new position in AppLovin during the 4th quarter valued at about $204,000. Greenleaf Trust purchased a new stake in AppLovin in the fourth quarter valued at about $273,000. Finally, Five Oceans Advisors acquired a new stake in AppLovin in the fourth quarter worth about $232,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the sale, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 888,867 shares of company stock valued at $284,773,062. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of AppLovin stock opened at $365.44 on Tuesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The business has a 50 day simple moving average of $342.49 and a two-hundred day simple moving average of $210.96. The stock has a market capitalization of $122.64 billion, a P/E ratio of 110.74, a PEG ratio of 3.00 and a beta of 2.30. AppLovin Co. has a 12 month low of $44.01 and a 12 month high of $417.64.

AppLovin (NASDAQ:APP) last announced its 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 company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 EPS. As a group, analysts predict that AppLovin Co. will post 4.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on APP shares. JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Macquarie increased their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Benchmark began coverage on AppLovin in a research report on Friday, January 10th. They issued a “buy” rating and a $375.00 target price on the stock. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a 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 assigned a strong buy rating to the company. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.29.

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.