Whipplewood Advisors LLC Invests $1.39 Million in AppLovin Co. (NASDAQ:APP)

Whipplewood Advisors LLC bought a new stake in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,290 shares of the company’s stock, valued at approximately $1,389,000.

A number of other large investors have also recently made changes to their positions in APP. Townsquare Capital LLC grew its position in AppLovin by 64.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after purchasing an additional 3,126 shares during the last quarter. Second Half Financial Partners LLC acquired a new stake in shares of AppLovin during the third quarter worth about $224,000. State Street Corp grew its holdings in shares of AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after buying an additional 428,419 shares during the last quarter. Eagle Asset Management Inc. increased its position in AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after acquiring an additional 500,407 shares during the period. Finally, Zacks Investment Management raised its stake in AppLovin by 328.1% during the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after acquiring an additional 81,331 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APP has been the topic of several analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $560.00 target price (up from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Stifel Nicolaus lifted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. The Goldman Sachs Group boosted their price objective on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Piper Sandler raised their target price on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Citigroup boosted their price target on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $442.18.

AppLovin Trading Down 12.2 %

NASDAQ:APP opened at $331.00 on Thursday. AppLovin Co. has a 52-week low of $57.40 and a 52-week high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a fifty day simple moving average of $368.06 and a 200-day simple moving average of $250.75. The company has a market capitalization of $111.08 billion, a PE ratio of 72.91, a price-to-earnings-growth ratio of 3.02 and a beta of 2.30.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, equities research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,372 shares of company stock valued at $92,519,099. 14.69% of the stock is owned by corporate insiders.

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.