854 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC bought a new stake in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, HoldingsChannel reports. The firm bought 854 shares of the company’s stock, valued at approximately $277,000.

A number of other large investors also recently made changes to their positions in APP. Ameritas Advisory Services LLC acquired a new position in shares of AppLovin in the fourth quarter worth $986,000. HB Wealth Management LLC grew its stake in AppLovin by 31.6% in the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock valued at $771,000 after purchasing an additional 571 shares in the last quarter. Merit Financial Group LLC acquired a new position in AppLovin in the 4th quarter worth about $306,000. Relyea Zuckerberg Hanson LLC purchased a new stake in shares of AppLovin during the 4th quarter worth about $297,000. Finally, Wealthcare Advisory Partners LLC acquired a new stake in shares of AppLovin during the 4th quarter valued at about $451,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Trading Up 3.1 %

Shares of AppLovin stock opened at $342.34 on Friday. The company has a market cap of $114.89 billion, a price-to-earnings ratio of 103.74, a PEG ratio of 2.68 and a beta of 2.29. AppLovin Co. has a 1 year low of $40.71 and a 1 year high of $417.64. The company’s fifty day simple moving average is $330.75 and its 200-day simple moving average is $189.06. 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 posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS. As a group, sell-side analysts expect that AppLovin Co. will post 4.06 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on APP. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Citigroup raised their price target on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Piper Sandler began coverage on shares of AppLovin in a report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price objective for the company. JPMorgan Chase & Co. raised their target price on AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Four investment 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $338.06.

Insider Activity at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $318.94, for a total transaction of $5,740,920.00. Following the completion of the transaction, the director now owns 2,987 shares of the company’s stock, valued at approximately $952,673.78. This represents a 85.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock worth $284,773,062 over the last three months. Company insiders own 14.69% of the company’s stock.

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.