Wealth High Governance Capital Ltda Takes Position in AppLovin Co. (NASDAQ:APP)

Wealth High Governance Capital Ltda purchased a new stake in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 31,000 shares of the company’s stock, valued at approximately $10,039,000. AppLovin accounts for approximately 3.6% of Wealth High Governance Capital Ltda’s investment portfolio, making the stock its 9th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the third quarter valued at approximately $25,000. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin during the 4th quarter valued at $25,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin during the 3rd quarter worth $27,000. Riverview Trust Co increased its position in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares during the period. Finally, Hemington Wealth Management raised its stake in AppLovin by 78.4% in the fourth 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. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. Citigroup raised their target price on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Macquarie upped their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Piper Sandler lifted their target price on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $438.28.

AppLovin Price Performance

Shares of APP opened at $257.76 on Wednesday. The business has a 50-day moving average of $360.57 and a 200-day moving average of $265.20. AppLovin Co. has a 1 year low of $59.92 and a 1 year high of $525.15. The company has a market capitalization of $87.63 billion, a price-to-earnings ratio of 56.78, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. 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 quarterly earnings data 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 net margin of 33.54% and a return on equity of 188.55%. As a group, equities research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the sale, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 404,371 shares of company stock worth $139,793,507 in the last quarter. Company 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.