Hemington Wealth Management Has $29,000 Position in AppLovin Co. (NASDAQ:APP)

Hemington Wealth Management boosted its holdings in AppLovin Co. (NASDAQ:APP) by 78.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 91 shares of the company’s stock after acquiring an additional 40 shares during the quarter. Hemington Wealth Management’s holdings in AppLovin were worth $29,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of APP. WCM Investment Management LLC raised its holdings in AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares during the period. FMR LLC raised its holdings in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares during the period. State Street Corp raised its holdings in AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares during the period. Geode Capital Management LLC raised its holdings in AppLovin by 12.8% in the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after purchasing an additional 449,241 shares during the period. Finally, Fred Alger Management LLC raised its holdings in AppLovin by 1.3% in the third quarter. Fred Alger Management LLC now owns 3,539,467 shares of the company’s stock worth $462,077,000 after purchasing an additional 46,854 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Stifel Nicolaus increased their target price on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. The Goldman Sachs Group increased their target price on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Citigroup increased 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. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday. Finally, Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $422.18.

AppLovin Stock Up 24.0 %

AppLovin stock opened at $471.67 on Friday. The company has a market cap of $158.29 billion, a P/E ratio of 142.93, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. AppLovin Co. has a 1-year low of $45.59 and a 1-year high of $525.15. The company has a fifty day simple moving average of $349.15 and a 200 day simple moving average of $226.34. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. Research analysts anticipate that AppLovin Co. will post 4.09 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the sale, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $406.27, for a total transaction of $203,135.00. Following the completion of the sale, the director now owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. This represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 828,991 shares of company stock worth $267,640,144 over the last quarter. 14.69% of the stock is currently owned by insiders.

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.