1,688 Shares in AppLovin Co. (NASDAQ:APP) Acquired by Moors & Cabot Inc.

Moors & Cabot Inc. acquired a new stake in AppLovin Co. (NASDAQ:APP) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,688 shares of the company’s stock, valued at approximately $547,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin during the fourth quarter valued at $25,000. Meeder Asset Management Inc. acquired a new position in AppLovin during the 3rd quarter valued at about $27,000. Riverview Trust Co lifted its position in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after purchasing an additional 82 shares during the period. Hemington Wealth Management grew its position in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Loop Capital raised their price objective on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. The Goldman Sachs Group lifted their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the company an “overweight” rating in a research note on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. Finally, Arete Research set a $200.00 price target on shares of AppLovin in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $438.28.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was 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 in the company, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 322,871 shares of company stock valued at $111,401,882 over the last 90 days. 14.69% of the stock is owned by corporate insiders.

AppLovin Stock Performance

APP opened at $292.89 on Friday. The company has a market capitalization of $99.57 billion, a price-to-earnings ratio of 64.51, a P/E/G ratio of 3.02 and a beta of 2.33. The business’s 50-day moving average price is $357.00 and its two-hundred day moving average price is $266.70. AppLovin Co. has a 1 year low of $60.67 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.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (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%. Equities analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal 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.