Valliance Asset Management Ltd Takes Position in AppLovin Co. (NASDAQ:APP)

Valliance Asset Management Ltd acquired a new stake in AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,000 shares of the company’s stock, valued at approximately $1,619,000. AppLovin makes up 2.9% of Valliance Asset Management Ltd’s investment portfolio, making the stock its 10th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in AppLovin during the 3rd quarter worth $25,000. GHP Investment Advisors Inc. acquired a new stake in AppLovin during the 4th quarter worth $25,000. DT Investment Partners LLC acquired a new stake in AppLovin during the 3rd quarter worth $27,000. Meeder Asset Management Inc. acquired a new stake in AppLovin during the 3rd quarter worth $27,000. Finally, Hemington Wealth Management grew its position in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Down 7.7 %

Shares of NASDAQ APP opened at $415.31 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 52 week low of $56.45 and a 52 week high of $525.15. The firm has a 50-day moving average price of $365.59 and a 200 day moving average price of $244.47. The stock has a market capitalization of $139.37 billion, a price-to-earnings ratio of 91.48, a price-to-earnings-growth ratio of 3.28 and a beta of 2.30.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS 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%. Equities research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analysts Set New Price Targets

APP has been the topic of several research reports. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. Jefferies Financial Group raised their price objective 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. 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 report on Friday, November 8th. Wedbush reissued an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Finally, BTIG Research raised their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $442.18.

Insiders Place Their Bets

In other AppLovin news, Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the completion of the transaction, the director now owns 621,209 shares in the company, valued at approximately $204,688,365.50. The trade was a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 196,302 shares of company stock worth $65,305,354. Insiders own 14.69% of the company’s stock.

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.