World Investment Advisors Makes New $847,000 Investment in AppLovin Co. (NASDAQ:APP)

World Investment Advisors bought a new stake in AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,615 shares of the company’s stock, valued at approximately $847,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of APP. JFS Wealth Advisors LLC boosted its holdings in AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after acquiring an additional 29 shares in the last quarter. HighPoint Advisor Group LLC grew its holdings in AppLovin by 1.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after acquiring an additional 31 shares during the period. Truvestments Capital LLC grew its stake in shares of AppLovin by 0.7% during the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after purchasing an additional 38 shares during the period. National Bank of Canada FI grew its position in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after buying an additional 39 shares during the period. Finally, Hemington Wealth Management increased its holdings in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on APP shares. UBS Group upped their price target on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Citigroup lifted their target price on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Bank of America upped their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. The Goldman Sachs Group lifted their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Finally, FBN Securities started coverage on AppLovin in a research report on Friday, March 28th. They issued an “outperform” rating and a $385.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $435.47.

AppLovin Trading Down 16.3 %

Shares of AppLovin stock opened at $219.37 on Monday. The firm has a market capitalization of $74.58 billion, a price-to-earnings ratio of 48.32, a PEG ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The stock has a 50 day moving average of $342.89 and a 200 day moving average of $289.58.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share 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, research analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now 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, CTO Vasily Shikin sold 17,500 shares of the business’s 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 approximately $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock worth $106,401,841 over the last three months. Company 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.