Oxford Financial Group LTD. LLC Acquires New Shares in AppLovin Co. (NASDAQ:APP)

Oxford Financial Group LTD. LLC acquired a new stake in shares of AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,632 shares of the company’s stock, valued at approximately $1,176,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OneDigital Investment Advisors LLC bought a new stake in shares of AppLovin in the 3rd quarter worth $336,000. CIBC Asset Management Inc grew its holdings in shares of AppLovin by 3.6% during the third quarter. CIBC Asset Management Inc now owns 7,777 shares of the company’s stock valued at $1,015,000 after buying an additional 267 shares in the last quarter. AMG National Trust Bank purchased a new position in shares of AppLovin during the third quarter valued at $225,000. Pathstone Holdings LLC grew its holdings in shares of AppLovin by 5.5% during the third quarter. Pathstone Holdings LLC now owns 19,866 shares of the company’s stock valued at $2,594,000 after buying an additional 1,042 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in AppLovin in the third quarter valued at about $27,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 306,900 shares of company stock worth $106,401,841. Corporate insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on APP shares. Macquarie upped their price target on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Oppenheimer reissued an “outperform” rating and set a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Jefferies Financial Group boosted their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Benchmark boosted their price objective on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Stock Performance

APP opened at $306.74 on Friday. The company has a market capitalization of $104.28 billion, a price-to-earnings ratio of 67.56, a P/E/G ratio of 3.02 and a beta of 2.33. The business’s 50-day moving average price is $353.92 and its two-hundred day moving average price is $272.44. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS 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%. Equities analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal 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.