Parcion Private Wealth LLC Takes $366,000 Position in AppLovin Co. (NASDAQ:APP)

Parcion Private Wealth LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) in the fourth quarter, Holdings Channel.com reports. The fund purchased 1,131 shares of the company’s stock, valued at approximately $366,000.

Other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in AppLovin in the 3rd quarter valued at about $25,000. GHP Investment Advisors Inc. acquired a new stake in AppLovin in the 4th quarter valued at about $25,000. DT Investment Partners LLC acquired a new stake in AppLovin in the 3rd quarter valued at about $27,000. Meeder Asset Management Inc. acquired a new stake in AppLovin in the 3rd quarter valued at about $27,000. Finally, Raleigh Capital Management Inc. acquired a new stake in AppLovin in the 3rd quarter valued at about $29,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity

In other news, Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the sale, the director now owns 621,209 shares in the company, valued at $204,688,365.50. This trade represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the sale, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. The trade was a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 217,403 shares of company stock worth $72,325,024 over the last 90 days. Company insiders own 14.69% of the company’s stock.

AppLovin Trading Down 0.4 %

NASDAQ APP opened at $494.17 on Thursday. AppLovin Co. has a one year low of $54.50 and a one year high of $525.15. The company’s 50 day moving average price is $361.30 and its 200 day moving average price is $239.37. 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 has a market capitalization of $165.84 billion, a price-to-earnings ratio of 108.85, a PEG ratio of 3.84 and a beta of 2.30.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS 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, sell-side analysts predict that AppLovin Co. will post 6.64 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on APP. Wedbush reissued an “outperform” rating and issued a $270.00 price objective (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Benchmark raised their price target on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. UBS Group raised their price target on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company raised their price target on shares of AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, BTIG Research raised their price target on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Four research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $430.41.

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.