Okabena Investment Services Inc. Acquires Shares of 1,501 AppLovin Co. (NASDAQ:APP)

Okabena Investment Services Inc. bought a new position in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,501 shares of the company’s stock, valued at approximately $486,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Advisors Asset Management Inc. boosted its position in shares of AppLovin by 89.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 681 shares of the company’s stock valued at $89,000 after acquiring an additional 322 shares during the last quarter. Cerity Partners LLC boosted its holdings in AppLovin by 36.3% in the 3rd quarter. Cerity Partners LLC now owns 18,120 shares of the company’s stock valued at $2,366,000 after purchasing an additional 4,822 shares during the last quarter. Larson Financial Group LLC boosted its holdings in AppLovin by 9,300.0% in the 3rd quarter. Larson Financial Group LLC now owns 470 shares of the company’s stock valued at $61,000 after purchasing an additional 465 shares during the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of AppLovin in the 3rd quarter valued at approximately $672,000. Finally, Private Trust Co. NA increased its holdings in shares of AppLovin by 86.7% during the 3rd quarter. Private Trust Co. NA now owns 788 shares of the company’s stock worth $103,000 after buying an additional 366 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Performance

NASDAQ:APP opened at $272.38 on Friday. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market capitalization of $92.60 billion, a PE ratio of 60.00, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The business’s fifty day moving average price is $351.86 and its 200 day moving average price is $281.71.

AppLovin (NASDAQ:APP) last released its quarterly earnings data 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, sell-side analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Stifel Nicolaus upped 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. FBN Securities initiated coverage on AppLovin in a research note on Friday. They issued an “outperform” rating and a $385.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Oppenheimer reaffirmed an “outperform” rating on shares of AppLovin in a research report on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $435.47.

Insiders Place Their Bets

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $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 quarter, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by corporate insiders.

About AppLovin

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.