Florida Financial Advisors LLC Makes New $246,000 Investment in AppLovin Co. (NASDAQ:APP)

Florida Financial Advisors LLC bought a new stake in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, Holdings Channel.com reports. The fund bought 760 shares of the company’s stock, valued at approximately $246,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Townsquare Capital LLC raised its position in shares of AppLovin by 64.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after purchasing an additional 3,126 shares during the last quarter. State Street Corp raised its holdings in shares of AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after acquiring an additional 428,419 shares during the last quarter. Zacks Investment Management boosted its stake in shares of AppLovin by 328.1% in the third quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock worth $13,854,000 after acquiring an additional 81,331 shares during the last quarter. Toronto Dominion Bank increased its position in shares of AppLovin by 38.8% during the third quarter. Toronto Dominion Bank now owns 25,174 shares of the company’s stock worth $3,286,000 after purchasing an additional 7,039 shares in the last quarter. Finally, Oxinas Partners Wealth Management LLC acquired a new position in AppLovin in the 4th quarter valued at $1,081,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Trading Up 1.9 %

Shares of APP stock opened at $346.29 on Wednesday. The company has a 50-day moving average of $354.81 and a two-hundred day moving average of $280.21. The firm has a market cap of $117.72 billion, a PE ratio of 76.28, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 1-year low of $60.67 and a 1-year 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.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on APP shares. UBS Group upped their target price on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Wells Fargo & Company set a $538.00 price objective on shares of AppLovin and gave the company an “overweight” rating in a research note on Thursday, February 27th. Stifel Nicolaus raised their target price on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Citigroup upped their price target on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $438.28.

Insider Activity

In related news, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 306,900 shares of company stock valued at $106,401,841. 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.