Vicus Capital Makes New Investment in AppLovin Co. (NASDAQ:APP)

Vicus Capital purchased a new position in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,079 shares of the company’s stock, valued at approximately $349,000.

Several other hedge funds also recently modified their holdings of the company. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin in the fourth quarter worth approximately $25,000. Hemington Wealth Management boosted its position in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after acquiring an additional 62 shares during the last quarter. Bogart Wealth LLC acquired a new stake in shares of AppLovin in the fourth quarter worth approximately $37,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of AppLovin by 139.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock worth $50,000 after acquiring an additional 89 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APP has been the topic of several research reports. BTIG Research raised their price target on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Oppenheimer restated an “outperform” rating and issued a $560.00 price target (up previously from $480.00) on shares of AppLovin in a report on Thursday. Bank of America raised their price target on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday. Loop Capital raised their price target on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, UBS Group raised their price target on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday. Four research 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 stock. According to data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $422.18.

AppLovin Stock Up 8.2 %

Shares of NASDAQ:APP opened at $510.13 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a fifty day simple moving average of $351.33 and a 200 day simple moving average of $229.34. The firm has a market cap of $171.19 billion, a PE ratio of 154.59, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. AppLovin Co. has a 12-month low of $52.75 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (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%. On average, equities research analysts anticipate that AppLovin Co. will post 4.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 500 shares of AppLovin stock in a transaction on Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the transaction, the director now owns 6,684 shares of the company’s stock, valued at $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction 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 completion of the transaction, the insider now directly owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 828,991 shares of company stock valued at $267,640,144 over the last 90 days. 14.69% of the stock is owned by company insiders.

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.