Corient Private Wealth LLC Grows Stock Position in AppLovin Co. (NASDAQ:APP)

Corient Private Wealth LLC raised its holdings in AppLovin Co. (NASDAQ:APP) by 15.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,556 shares of the company’s stock after acquiring an additional 2,592 shares during the quarter. Corient Private Wealth LLC’s holdings in AppLovin were worth $5,986,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. JFS Wealth Advisors LLC grew its position in AppLovin by 38.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. Truvestments Capital LLC grew its position in AppLovin by 0.7% in the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after acquiring an additional 38 shares during the last quarter. National Bank of Canada FI grew its position in AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after acquiring an additional 39 shares during the last quarter. Hemington Wealth Management grew its position in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in AppLovin by 19.7% in the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. 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. 14.69% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Bank of America upped their price objective on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Arete Research set a $200.00 price target on AppLovin in a research report on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. Citigroup increased their price target on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group increased their price target on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $438.28.

AppLovin Trading Up 2.4 %

AppLovin stock opened at $314.03 on Friday. The stock has a 50-day moving average of $353.83 and a two-hundred day moving average of $273.98. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The stock has a market cap of $106.76 billion, a PE ratio of 69.17, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating 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, research analysts anticipate 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.