Tucker Asset Management LLC Takes Position in AppLovin Co. (NASDAQ:APP)

Tucker Asset Management LLC acquired a new stake in AppLovin Co. (NASDAQ:APP) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 87 shares of the company’s stock, valued at approximately $28,000.

A number of other hedge funds also recently bought and sold shares of APP. GHP Investment Advisors Inc. acquired a new position in AppLovin in the 4th quarter valued at $25,000. Riverview Trust Co lifted its holdings in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares during the last quarter. Hemington Wealth Management grew its holdings in shares of 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 period. Fifth Third Bancorp boosted its stake in AppLovin by 172.2% during the fourth 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 acquired a new stake in AppLovin in the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. The trade was a 16.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Arash Adam Foroughi sold 44,400 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the sale, the chief executive officer now owns 2,869,492 shares of the company’s stock, valued at $1,179,045,567.88. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by company insiders.

AppLovin Stock Up 4.1 %

APP opened at $272.38 on Friday. The firm has a market cap of $92.60 billion, a P/E ratio of 60.00, a PEG 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. The business’s fifty day simple moving average is $351.86 and its 200 day simple moving average is $283.07. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, equities research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on APP shares. Jefferies Financial Group lifted their target price on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Monday, March 17th. Piper Sandler increased their target price on shares of AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. The Goldman Sachs Group lifted their price target on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, Benchmark upped their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $435.47.

AppLovin Company 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.