Salvus Wealth Management LLC Takes $213,000 Position in AppLovin Co. (NASDAQ:APP)

Salvus Wealth Management LLC bought a new position in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 658 shares of the company’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of AppLovin in the third quarter worth approximately $25,000. DT Investment Partners LLC purchased a new position in shares of AppLovin during the 3rd quarter valued at $27,000. Meeder Asset Management Inc. bought a new position in AppLovin in the 3rd quarter worth $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin in the 3rd quarter worth $29,000. Finally, Quest Partners LLC purchased a new stake in AppLovin in the 2nd quarter worth $33,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 0.9 %

Shares of NASDAQ APP opened at $332.01 on Friday. AppLovin Co. has a 1-year low of $39.43 and a 1-year high of $417.64. 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 50 day moving average is $327.99 and its two-hundred day moving average is $185.52. The stock has a market capitalization of $111.42 billion, a P/E ratio of 100.61, a PEG ratio of 2.68 and a beta of 2.29.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS. As a group, research analysts expect that AppLovin Co. will post 4.06 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Oppenheimer restated an “outperform” rating and issued a $480.00 price objective on shares of AppLovin in a research report on Tuesday, December 10th. Citigroup boosted their price target on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. BTIG Research increased their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Wedbush reiterated an “outperform” rating and set a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Finally, Jefferies Financial Group upped their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $338.06.

Insider Activity

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the sale, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is currently owned by company insiders.

AppLovin Company 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.