Concurrent Investment Advisors LLC Invests $1.01 Million in AppLovin Co. (NASDAQ:APP)

Concurrent Investment Advisors LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, Holdings Channel reports. The fund acquired 3,123 shares of the company’s stock, valued at approximately $1,011,000.

Several other large investors have also recently modified their holdings of APP. Sequoia Financial Advisors LLC bought a new position in shares of AppLovin during the 3rd quarter valued at approximately $281,000. Signaturefd LLC increased its position in shares of AppLovin by 12.3% during the 3rd quarter. Signaturefd LLC now owns 2,794 shares of the company’s stock valued at $365,000 after purchasing an additional 305 shares during the last quarter. Private Advisor Group LLC increased its position in shares of AppLovin by 58.0% during the 3rd quarter. Private Advisor Group LLC now owns 11,291 shares of the company’s stock valued at $1,474,000 after purchasing an additional 4,147 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of AppLovin during the 3rd quarter valued at approximately $56,410,000. Finally, IFM Investors Pty Ltd increased its position in shares of AppLovin by 11.0% during the 3rd quarter. IFM Investors Pty Ltd now owns 40,439 shares of the company’s stock valued at $5,279,000 after purchasing an additional 3,999 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

APP opened at $415.31 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market capitalization of $139.37 billion, a price-to-earnings ratio of 91.48, a PEG ratio of 3.28 and a beta of 2.30. AppLovin Co. has a 12-month low of $56.45 and a 12-month high of $525.15. The business’s fifty day simple moving average is $365.59 and its 200-day simple moving average is $244.47.

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

Insider Buying and Selling

In related news, CFO Herald Y. Chen sold 400 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the completion of the sale, the chief financial officer now directly owns 207,649 shares in the company, valued at $76,032,757.84. This represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mary Margaret Hasti Georgiadis sold 30,500 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $339.69, for a total value of $10,360,545.00. Following the sale, the director now owns 154,500 shares of the company’s stock, valued at $52,482,105. This trade represents a 16.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 196,302 shares of company stock worth $65,305,354 in the last three months. 14.69% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

APP has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group upped their price objective on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. UBS Group upped their price objective on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Loop Capital upped their price objective on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday. Four 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $442.18.

About AppLovin

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.