Avestar Capital LLC Takes $547,000 Position in AppLovin Co. (NASDAQ:APP)

Avestar Capital LLC purchased a new position in AppLovin Co. (NASDAQ:APP) during the 4th quarter, Holdings Channel.com reports. The firm purchased 1,689 shares of the company’s stock, valued at approximately $547,000.

A number of other hedge funds also recently bought and sold shares of APP. National Bank of Canada FI raised its position in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after purchasing an additional 39 shares during the period. Hemington Wealth Management increased 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 valued at $29,000 after purchasing an additional 40 shares during the last quarter. Versant Capital Management Inc raised its holdings in AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after buying an additional 53 shares during the period. Great Valley Advisor Group Inc. lifted its position in AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after buying an additional 60 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in 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 period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on APP shares. BTIG Research raised their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Wedbush reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Benchmark increased their price target on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Oppenheimer restated an “outperform” rating and set a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a report on Thursday. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $422.18.

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the sale, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 828,991 shares of company stock valued at $267,640,144. Corporate insiders own 14.69% of the company’s stock.

AppLovin Trading Up 24.0 %

NASDAQ:APP opened at $471.67 on Friday. The firm has a 50-day simple moving average of $349.15 and a 200-day simple moving average of $226.34. AppLovin Co. has a one year low of $45.59 and a one year high of $525.15. The firm has a market cap of $158.29 billion, a P/E ratio of 142.93, a P/E/G ratio of 3.10 and a beta of 2.30. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. Equities analysts anticipate that AppLovin Co. will post 4.09 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.