AppLovin Co. (NASDAQ:APP) Position Boosted by OneAscent Financial Services LLC

OneAscent Financial Services LLC lifted its stake in AppLovin Co. (NASDAQ:APP) by 8.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,829 shares of the company’s stock after purchasing an additional 230 shares during the quarter. OneAscent Financial Services LLC’s holdings in AppLovin were worth $916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin during the 4th quarter worth about $25,000. Riverview Trust Co raised its position in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. Tucker Asset Management LLC acquired a new stake in AppLovin in the fourth quarter valued at approximately $28,000. Hemington Wealth Management grew its position in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 2.7 %

NASDAQ APP opened at $290.39 on Thursday. The stock has a market capitalization of $98.72 billion, a P/E ratio of 63.96, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a fifty day moving average of $347.77 and a 200-day moving average of $286.73.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data 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%. On average, equities research analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was 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 trade represents a 24.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were 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 directly 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. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 over the last ninety days. Insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on APP shares. Loop Capital reiterated a “buy” rating on shares of AppLovin in a report on Friday, March 28th. Stifel Nicolaus increased their price objective on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Macquarie boosted their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. UBS Group increased their price target on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $435.47.

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.