Mpwm Advisory Solutions LLC Invests $36,000 in AppLovin Co. (NASDAQ:APP)

Mpwm Advisory Solutions LLC acquired a new position in AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 112 shares of the company’s stock, valued at approximately $36,000.

A number of other institutional investors have also made changes to their positions in the business. JFS Wealth Advisors LLC lifted its position in shares of AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after purchasing an additional 29 shares in the last quarter. HighPoint Advisor Group LLC raised its position in AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after acquiring an additional 31 shares in the last quarter. Quadrant Capital Group LLC raised its position in AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock worth $170,000 after acquiring an additional 33 shares in the last quarter. Forum Financial Management LP raised its position in AppLovin by 0.9% during the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock worth $1,223,000 after acquiring an additional 33 shares in the last quarter. Finally, Truvestments Capital LLC raised its position in AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after acquiring an additional 38 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on APP. Benchmark reaffirmed a “buy” rating and set a $525.00 price target on shares of AppLovin in a research report on Thursday, May 8th. Citigroup upped their price target on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Piper Sandler upped their price target on shares of AppLovin from $425.00 to $455.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Oppenheimer reaffirmed an “outperform” rating and set a $500.00 price target (down from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group upped their price objective on shares of AppLovin from $335.00 to $435.00 and gave the company a “neutral” rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $433.85.

AppLovin Trading Down 2.0%

APP stock opened at $363.05 on Wednesday. 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’s 50-day simple moving average is $288.92 and its 200 day simple moving average is $321.26. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The company has a market capitalization of $122.85 billion, a PE ratio of 79.97, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The business’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 earnings per share. As a group, sell-side analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 570 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $371.12, for a total transaction of $211,538.40. Following the completion of the transaction, the director now directly owns 6,231 shares in the company, valued at $2,312,448.72. The trade was a 8.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Herald Y. Chen sold 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the transaction, the director now owns 221,209 shares of the company’s stock, valued at approximately $82,867,103.49. This represents a 64.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,119,470 shares of company stock worth $409,752,180 over the last ninety days. Corporate insiders own 14.69% of the company’s stock.

AppLovin 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.