1,293 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,293 shares of the company’s stock, valued at approximately $419,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JFS Wealth Advisors LLC increased its stake in shares of AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after purchasing an additional 29 shares during the period. Truvestments Capital LLC increased its stake in shares of AppLovin by 0.7% in the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after purchasing an additional 38 shares during the period. National Bank of Canada FI increased its stake in shares of AppLovin by 4.0% in the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after purchasing an additional 39 shares during the period. Hemington Wealth Management boosted its holdings in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of AppLovin by 19.7% in the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Arete Research set a $200.00 price objective on shares of AppLovin in a report on Wednesday, March 5th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Benchmark increased their price objective on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group increased their price objective on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Stock Up 7.7 %

Shares of NASDAQ:APP opened at $292.89 on Monday. 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 company has a market cap of $99.57 billion, a PE ratio of 64.51, 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 firm has a 50 day simple moving average of $357.00 and a 200 day simple moving average of $269.20.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Herald Y. Chen sold 200,000 shares of the firm’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 transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vasily Shikin sold 17,500 shares of the firm’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 transaction, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 322,871 shares of company stock worth $111,401,882 in the last quarter. 14.69% of the stock is currently owned by corporate insiders.

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.