NorthCrest Asset Manangement LLC Invests $283,000 in AppLovin Co. (NASDAQ:APP)

NorthCrest Asset Manangement LLC acquired a new position in AppLovin Co. (NASDAQ:APP) in the 4th quarter, Holdings Channel reports. The firm acquired 874 shares of the company’s stock, valued at approximately $283,000.

Other large investors also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AppLovin in the fourth quarter worth $25,000. GHP Investment Advisors Inc. acquired a new stake in AppLovin during the 4th quarter valued at $25,000. Riverview Trust Co grew its holdings in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after purchasing an additional 82 shares in the last quarter. Tucker Asset Management LLC acquired a new stake in AppLovin during the 4th quarter valued at $28,000. Finally, Hemington Wealth Management grew its holdings in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on APP shares. Arete Research set a $200.00 price target on shares of AppLovin in a report on Wednesday, March 5th. Piper Sandler raised their price target on shares of AppLovin from $425.00 to $455.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their price target on shares of AppLovin from $270.00 to $355.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Wednesday. Finally, Loop Capital reaffirmed a “buy” rating and set a $650.00 price target on shares of AppLovin in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $433.85.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 6,585 shares of AppLovin stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $370.23, for a total value of $2,437,964.55. Following the sale, the insider now directly owns 357,903 shares in the company, valued at $132,506,427.69. This trade represents a 1.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 34,766 shares of AppLovin stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $353.64, for a total transaction of $12,294,648.24. Following the completion of the sale, the chief technology officer now owns 70,889 shares in the company, valued at approximately $25,069,185.96. This represents a 32.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,115,754 shares of company stock worth $411,165,970. 14.69% of the stock is currently owned by insiders.

AppLovin Trading Down 0.9%

AppLovin stock opened at $380.88 on Friday. The firm’s 50-day moving average is $298.37 and its 200-day moving average is $328.36. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The company has a market cap of $128.88 billion, a P/E ratio of 83.89, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results 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. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm posted $0.67 EPS. The company’s revenue for the quarter was up 40.3% on a year-over-year basis. On average, equities analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

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.