1,970 Shares in AppLovin Co. (NASDAQ:APP) Acquired by West Michigan Advisors LLC

West Michigan Advisors LLC acquired a new stake in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,970 shares of the company’s stock, valued at approximately $638,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JFS Wealth Advisors LLC increased its holdings in shares of AppLovin by 38.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. National Bank of Canada FI grew its holdings in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after buying an additional 39 shares in the last quarter. Hemington Wealth Management grew its holdings in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Versant Capital Management Inc grew its holdings in AppLovin by 19.7% during the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after buying an additional 53 shares in the last quarter. Finally, Great Valley Advisor Group Inc. grew its holdings in AppLovin by 2.2% during the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after buying an additional 60 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

APP has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Jefferies Financial Group upped their price target on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Citigroup boosted their price objective on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Oppenheimer reissued an “outperform” rating and issued a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $452.29.

AppLovin Stock Up 1.6 %

Shares of NASDAQ APP opened at $325.78 on Friday. AppLovin Co. has a one year low of $57.40 and a one 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. The business’s fifty day moving average price is $367.79 and its 200-day moving average price is $252.97. The stock has a market capitalization of $109.33 billion, a PE ratio of 71.76, a P/E/G ratio of 3.02 and a beta of 2.30.

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

Insider Buying and Selling

In related news, CFO Herald Y. Chen sold 400 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the sale, the chief financial officer now owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. This represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 44,400 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the sale, the chief executive officer now directly owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 224,872 shares of company stock valued at $82,158,554. Corporate insiders own 14.69% of the company’s stock.

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.