AppLovin Co. (NASDAQ:APP) is Benchmark Investment Advisors LLC’s 4th Largest Position

Benchmark Investment Advisors LLC grew its holdings in AppLovin Co. (NASDAQ:APP) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,013 shares of the company’s stock after acquiring an additional 468 shares during the period. AppLovin comprises approximately 3.6% of Benchmark Investment Advisors LLC’s holdings, making the stock its 4th biggest holding. Benchmark Investment Advisors LLC’s holdings in AppLovin were worth $5,509,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

APP has been the topic of a number of analyst reports. Bank of America lifted their target price on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Citigroup boosted their price target on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Jefferies Financial Group raised their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Piper Sandler increased their price objective on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Benchmark upped their price objective on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $435.47.

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction on Monday, March 10th. The stock was 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 owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction on Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the transaction, the chief executive officer now owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 over the last ninety days. 14.69% of the stock is currently owned by company insiders.

AppLovin Stock Performance

APP opened at $219.37 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market cap of $74.58 billion, a PE ratio of 48.32, a P/E/G ratio of 3.02 and a beta of 2.39. The business has a fifty day simple moving average of $342.89 and a 200-day simple moving average of $288.42. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share 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%. As a group, equities analysts predict that AppLovin Co. will post 6.87 EPS 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.