598 Shares in AppLovin Co. (NASDAQ:APP) Acquired by Chiron Investment Management LLC

Chiron Investment Management LLC purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 598 shares of the company’s stock, valued at approximately $194,000.

Several other large investors have also recently made changes to their positions in APP. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin in the 4th quarter valued at $25,000. Riverview Trust Co grew its stake in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after buying an additional 82 shares during the last quarter. Tucker Asset Management LLC bought a new stake in shares of AppLovin in the 4th quarter valued at about $28,000. Hemington Wealth Management boosted its holdings 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 acquiring an additional 40 shares during the period. Finally, Fifth Third Bancorp grew its position in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after acquiring an additional 62 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by insiders.

AppLovin Stock Down 5.3 %

Shares of AppLovin stock opened at $249.95 on Monday. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a 50-day moving average of $327.20 and a 200 day moving average of $294.56. The firm has a market cap of $84.97 billion, a price-to-earnings ratio of 55.06, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating 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, sell-side analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on APP. Morgan Stanley upgraded AppLovin from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $470.00 to $350.00 in a research report on Thursday. The Goldman Sachs Group upped their price target on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Arete Research set a $200.00 price target on shares of AppLovin in a report on Wednesday, March 5th. Piper Sandler lowered their price objective on shares of AppLovin from $575.00 to $425.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their target price on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $424.84.

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.