Jackson Wealth Management LLC Makes New $468,000 Investment in AppLovin Co. (NASDAQ:APP)

Jackson Wealth Management LLC acquired a new stake in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,445 shares of the company’s stock, valued at approximately $468,000.

A number of other hedge funds and other institutional investors have also modified their holdings of APP. The Manufacturers Life Insurance Company lifted its stake in AppLovin by 23.8% in 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 last quarter. Truist Financial Corp lifted its stake in AppLovin by 510.9% in the 2nd quarter. Truist Financial Corp now owns 27,697 shares of the company’s stock valued at $2,305,000 after purchasing an additional 23,163 shares during the last quarter. Cetera Investment Advisers grew its holdings in AppLovin by 115.3% during the second quarter. Cetera Investment Advisers now owns 30,619 shares of the company’s stock worth $2,548,000 after purchasing an additional 16,397 shares during the period. Sanctuary Advisors LLC acquired a new position in AppLovin during the second quarter worth approximately $241,000. Finally, SG Americas Securities LLC raised its stake in AppLovin by 88.1% in the third quarter. SG Americas Securities LLC now owns 15,554 shares of the company’s stock valued at $2,031,000 after buying an additional 7,286 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

APP has been the subject of several research analyst reports. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. UBS Group lifted their price objective on shares of AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group increased their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Finally, Bank of America increased their price target on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a report on Monday, November 25th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $366.29.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the sale, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 over the last three months. Corporate insiders own 14.69% of the company’s stock.

AppLovin Trading Up 4.1 %

APP opened at $380.26 on Wednesday. The stock has a market capitalization of $127.61 billion, a price-to-earnings ratio of 115.23, a P/E/G ratio of 3.00 and a beta of 2.30. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a twelve month low of $44.01 and a twelve month high of $417.64. The company has a 50-day simple moving average of $343.50 and a 200 day simple moving average of $213.07.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates 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 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 prior year, the firm posted $0.30 EPS. Analysts predict that AppLovin Co. will post 4.09 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.