Berbice Capital Management LLC Purchases Shares of 1,950 AppLovin Co. (NASDAQ:APP)

Berbice Capital Management LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,950 shares of the company’s stock, valued at approximately $631,000. AppLovin makes up approximately 0.5% of Berbice Capital Management LLC’s portfolio, making the stock its 27th largest holding.

A number of other institutional investors have also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB raised its holdings in shares of AppLovin by 139.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after purchasing an additional 89 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in AppLovin during the third quarter worth $25,000. Meeder Asset Management Inc. acquired a new position in AppLovin during the third quarter worth $27,000. DT Investment Partners LLC acquired a new position in AppLovin during the third quarter worth $27,000. Finally, Avior Wealth Management LLC increased its holdings in AppLovin by 54.7% during the fourth quarter. Avior Wealth Management LLC now owns 215 shares of the company’s stock worth $70,000 after buying an additional 76 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the transaction, the director now directly owns 621,209 shares in the company, valued at $204,688,365.50. This represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock valued at $284,773,062 in the last three months. 14.69% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Citigroup upped their price objective on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Stifel Nicolaus upped their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Wedbush reissued an “outperform” rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Finally, UBS Group boosted their target price on shares of AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday. 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 stock. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $355.41.

AppLovin Stock Performance

Shares of APP stock opened at $364.39 on Friday. The company has a market cap of $122.28 billion, a price-to-earnings ratio of 110.41, a price-to-earnings-growth ratio of 2.96 and a beta of 2.29. AppLovin Co. has a 52 week low of $40.71 and a 52 week high of $417.64. 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 firm has a 50 day moving average of $335.97 and a 200-day moving average of $195.69.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm posted $0.30 EPS. AppLovin’s revenue was up 38.6% compared to the same quarter last year. On average, equities analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current year.

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.