Vestmark Advisory Solutions Inc. Makes New $550,000 Investment in AppLovin Co. (NASDAQ:APP)

Vestmark Advisory Solutions Inc. bought a new position in AppLovin Co. (NASDAQ:APP) during the 4th quarter, Holdings Channel reports. The institutional investor bought 1,699 shares of the company’s stock, valued at approximately $550,000.

Other hedge funds have also added to or reduced their stakes in the company. Townsquare Capital LLC boosted its holdings in AppLovin by 64.9% in the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after acquiring an additional 3,126 shares in the last quarter. Second Half Financial Partners LLC purchased a new position in shares of AppLovin in the third quarter worth $224,000. State Street Corp raised its stake in shares of AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares during the last quarter. Eagle Asset Management Inc. raised its stake in shares of AppLovin by 2,200.4% in the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares during the last quarter. Finally, Zacks Investment Management raised its stake in shares of AppLovin by 328.1% in the third quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock worth $13,854,000 after purchasing an additional 81,331 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on APP shares. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Thursday, February 13th. JPMorgan Chase & Co. boosted their price target on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. The Goldman Sachs Group boosted their price target on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Arete Research upgraded AppLovin to a “strong sell” rating in a research note on Wednesday. Finally, Citigroup boosted their price target on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $452.29.

Insider Activity at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the sale, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at $76,032,757.84. The trade was a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 406,447 shares of company stock valued at $140,537,281. Insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of AppLovin stock opened at $270.48 on Friday. The stock has a 50 day moving average of $363.84 and a 200 day moving average of $261.76. AppLovin Co. has a 12 month low of $59.30 and a 12 month high of $525.15. The firm has a market cap of $90.77 billion, a PE ratio of 59.58, a PEG ratio of 3.02 and a beta of 2.33. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, research analysts expect that AppLovin Co. will post 6.87 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.