Florida Financial Advisors LLC Makes New $246,000 Investment in AppLovin Co. (NASDAQ:APP)

Florida Financial Advisors LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 760 shares of the company’s stock, valued at approximately $246,000.

A number of other large investors have also recently made changes to their positions in the stock. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin during the fourth quarter worth approximately $25,000. Riverview Trust Co grew its stake in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares in the last quarter. Hemington Wealth Management raised its position in 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 in the last quarter. Fifth Third Bancorp lifted its holdings in shares of AppLovin by 172.2% in the 4th 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. Finally, Smithfield Trust Co bought a new position in shares of AppLovin during the 4th quarter worth $32,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the transaction, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 over the last three months. 14.69% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on APP shares. JPMorgan Chase & Co. lifted their price objective on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Stifel Nicolaus boosted their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. UBS Group increased their price objective on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Citigroup boosted their price objective on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company set a $538.00 target price on AppLovin and gave the company an “overweight” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $438.28.

AppLovin Stock Performance

APP opened at $346.29 on Wednesday. The firm’s 50-day moving average price is $354.81 and its 200-day moving average price is $280.21. The company has a market cap of $117.72 billion, a P/E ratio of 76.28, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. 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 $60.67 and a 52-week high of $525.15.

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

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.