McAdam LLC Purchases Shares of 1,255 AppLovin Co. (NASDAQ:APP)

McAdam LLC acquired 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 acquired 1,255 shares of the company’s stock, valued at approximately $406,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. U.S. Capital Wealth Advisors LLC bought a new position in AppLovin in the 4th quarter valued at about $204,000. Greenleaf Trust acquired a new position in AppLovin in the 4th quarter valued at $273,000. Five Oceans Advisors bought a new position in AppLovin during the 4th quarter worth $232,000. DAVENPORT & Co LLC acquired a new stake in shares of AppLovin during the fourth quarter worth $578,000. Finally, Precision Wealth Strategies LLC boosted its position in shares of AppLovin by 1.4% in the fourth quarter. Precision Wealth Strategies LLC now owns 4,772 shares of the company’s stock valued at $1,545,000 after acquiring an additional 64 shares during the period. 41.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

APP has been the subject of several analyst reports. Citigroup lifted their price objective on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Wells Fargo & Company lifted their price target on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Stifel Nicolaus increased their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Piper Sandler initiated coverage on AppLovin in a report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price objective for the company. Finally, BTIG Research increased their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $366.29.

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock worth $284,773,062 in the last ninety days. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $369.59 on Monday. AppLovin Co. has a fifty-two week low of $40.71 and a fifty-two week high of $417.64. The stock has a market cap of $124.03 billion, a PE ratio of 112.00, a PEG ratio of 2.97 and a beta of 2.29. 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 firm’s fifty day moving average price is $341.58 and its two-hundred day moving average price is $208.96.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. On average, equities analysts expect that AppLovin Co. will post 4.09 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.