Global Retirement Partners LLC Buys 307 Shares of AppLovin Co. (NASDAQ:APP)

Global Retirement Partners LLC lifted its holdings in AppLovin Co. (NASDAQ:APP) by 21.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,738 shares of the company’s stock after buying an additional 307 shares during the period. Global Retirement Partners LLC’s holdings in AppLovin were worth $563,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in APP. Capital Performance Advisors LLP bought a new position in shares of AppLovin in the 3rd quarter worth about $25,000. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin in the 4th quarter valued at about $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the 3rd quarter valued at about $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter valued at about $27,000. Finally, Hemington Wealth Management grew its stake in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares during the period. 41.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

APP has been the subject of several research reports. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the company from $80.00 to $280.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their target price on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research note 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 research note on Wednesday. Stifel Nicolaus raised their target price on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company lifted their price target on AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $442.18.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the transaction, the chief executive officer now owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. This represents a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 500 shares of AppLovin stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the sale, the director now directly owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. This trade represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 196,302 shares of company stock worth $65,305,354 in the last quarter. Insiders own 14.69% of the company’s stock.

AppLovin Stock Down 7.7 %

Shares of NASDAQ:APP opened at $415.31 on Friday. The company has a market capitalization of $139.37 billion, a PE ratio of 91.48, a price-to-earnings-growth ratio of 3.28 and a beta of 2.30. AppLovin Co. has a 1 year low of $56.45 and a 1 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 has a fifty day moving average price of $365.59 and a two-hundred day moving average price of $244.47.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share 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%. Analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

AppLovin 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.