Cookson Peirce & Co. Inc. Has $2.77 Million Stake in AppLovin Co. (NASDAQ:APP)

Cookson Peirce & Co. Inc. lifted its holdings in shares of AppLovin Co. (NASDAQ:APP) by 54.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,554 shares of the company’s stock after purchasing an additional 3,030 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in AppLovin were worth $2,770,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of APP. JFS Wealth Advisors LLC lifted its stake in AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after buying an additional 29 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after acquiring an additional 39 shares during the period. Hemington Wealth Management lifted its position in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Versant Capital Management Inc lifted its position in AppLovin by 19.7% in the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after acquiring an additional 53 shares in the last quarter. Finally, Great Valley Advisor Group Inc. boosted its stake in AppLovin by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after purchasing an additional 60 shares during the period. Institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the sale, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dawson Alyssa Harvey sold 500 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $406.27, for a total transaction of $203,135.00. Following the completion of the transaction, the director now owns 6,684 shares in the company, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 406,947 shares of company stock worth $140,740,416. Insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the topic of a number of research reports. The Goldman Sachs Group boosted their price target on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Loop Capital boosted their target price on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Macquarie upped their price target on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. BTIG Research lifted 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. Finally, Bank of America increased their target price on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $452.29.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $327.23 on Wednesday. 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 market capitalization of $109.82 billion, a P/E ratio of 72.08, a P/E/G ratio of 3.02 and a beta of 2.30. AppLovin Co. has a 12 month low of $59.30 and a 12 month high of $525.15. The stock has a 50 day moving average of $367.35 and a 200-day moving average of $258.85.

AppLovin (NASDAQ:APP) last released 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 33.54% and a return on equity of 188.55%. As a group, equities research analysts predict that AppLovin Co. will post 6.87 EPS for the current 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.