Oak Ridge Investments LLC Makes New $5.77 Million Investment in AppLovin Co. (NASDAQ:APP)

Oak Ridge Investments LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,825 shares of the company’s stock, valued at approximately $5,772,000.

Other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in AppLovin during the third quarter worth about $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the 3rd quarter worth approximately $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin during the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin in the third quarter valued at approximately $29,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in AppLovin during the second quarter valued at approximately $34,000. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Bank of America boosted their target price on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Citigroup upped their price objective on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Loop Capital boosted their target price on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and increased their price target for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their price objective on AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $338.06.

AppLovin Stock Up 3.1 %

Shares of NASDAQ APP opened at $342.34 on Friday. 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 company has a 50-day moving average price of $330.75 and a 200-day moving average price of $189.06. The stock has a market capitalization of $114.89 billion, a P/E ratio of 103.74, a P/E/G ratio of 2.68 and a beta of 2.29. AppLovin Co. has a 1 year low of $40.71 and a 1 year high of $417.64.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating 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 analyst estimates of $1.13 billion. During the same period in the prior year, the firm posted $0.30 EPS. AppLovin’s quarterly revenue was up 38.6% compared to the same quarter last year. On average, equities research analysts forecast that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction dated Tuesday, November 12th. The shares were 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 of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock worth $284,773,062 over the last ninety days. 14.69% of the stock is currently owned by company 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.