Hemington Wealth Management Purchases 40 Shares of AppLovin Co. (NASDAQ:APP)

Hemington Wealth Management increased its position in AppLovin Co. (NASDAQ:APP) by 78.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91 shares of the company’s stock after acquiring an additional 40 shares during the quarter. Hemington Wealth Management’s holdings in AppLovin were worth $29,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its position in AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares during the last quarter. Jennison Associates LLC acquired a new stake in AppLovin in the 4th quarter worth $414,462,000. WCM Investment Management LLC grew its position in AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. Janus Henderson Group PLC grew its position in AppLovin by 31.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after purchasing an additional 560,560 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its position in AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the transaction, the chief technology officer now directly owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 828,991 shares of company stock worth $267,640,144. Corporate insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on APP. Loop Capital raised their price target on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Citigroup lifted their target price on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. The Goldman Sachs Group lifted their target price on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Benchmark lifted their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research report on Thursday. Finally, BTIG Research lifted their target price on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $422.18.

AppLovin Trading Up 24.0 %

Shares of APP stock opened at $471.67 on Friday. AppLovin Co. has a 12-month low of $45.59 and a 12-month high of $525.15. The company has a market capitalization of $158.29 billion, a P/E ratio of 142.93, a P/E/G ratio of 3.10 and a beta of 2.30. The firm has a 50-day moving average price of $349.15 and a 200 day moving average price of $226.34. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last announced its earnings results 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 net margin of 26.85% and a return on equity of 122.24%. Research analysts forecast that AppLovin Co. will post 4.09 earnings per share 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.