Quotient Wealth Partners LLC Acquires Shares of 684 AppLovin Co. (NASDAQ:APP)

Quotient Wealth Partners LLC bought a new position in AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 684 shares of the company’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also made changes to their positions in APP. FMR LLC increased its stake in shares of AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after buying an additional 6,801,138 shares during the period. Jennison Associates LLC purchased a new stake in AppLovin in the fourth quarter worth about $414,462,000. WCM Investment Management LLC grew its holdings in AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after acquiring an additional 1,029,009 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of AppLovin by 31.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after purchasing an additional 560,560 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its position in shares of AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares during the period. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Performance

Shares of APP stock opened at $384.40 on Tuesday. The business has a fifty day moving average of $347.00 and a 200 day moving average of $221.43. AppLovin Co. has a 1 year low of $45.12 and a 1 year high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market capitalization of $129.00 billion, a price-to-earnings ratio of 116.49, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Bank of America lifted their price objective on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a report on Monday, November 25th. Citigroup boosted their price target on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Wells Fargo & Company boosted their target price on shares of AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Jefferies Financial Group raised their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Four equities 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.29.

Insider Transactions at AppLovin

In other AppLovin news, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $318.94, for a total transaction of $5,740,920.00. Following the sale, the director now directly owns 2,987 shares of the company’s stock, valued at approximately $952,673.78. This trade represents a 85.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 828,991 shares of company stock worth $267,640,144 over the last three months. 14.69% of the stock is currently owned by 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.