Measured Wealth Private Client Group LLC Invests $210,000 in AppLovin Co. (NASDAQ:APP)

Measured Wealth Private Client Group LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,030 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors have also added to or reduced their stakes in APP. GAMMA Investing LLC raised its stake in shares of AppLovin by 13.6% during the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock worth $89,000 after acquiring an additional 154 shares in the last quarter. DeDora Capital Inc. increased its position in shares of AppLovin by 1.8% during the first quarter. DeDora Capital Inc. now owns 9,596 shares of the company’s stock valued at $664,000 after acquiring an additional 166 shares in the last quarter. Lindbrook Capital LLC lifted its stake in AppLovin by 26.6% during the 4th quarter. Lindbrook Capital LLC now owns 1,337 shares of the company’s stock valued at $53,000 after acquiring an additional 281 shares during the period. Xponance Inc. increased its position in AppLovin by 2.5% during the fourth quarter. Xponance Inc. now owns 13,664 shares of the company’s stock valued at $545,000 after acquiring an additional 334 shares during the last quarter. Finally, CWM LLC increased its holdings in AppLovin by 16.3% during the fourth quarter. CWM LLC now owns 2,864 shares of the company’s stock valued at $114,000 after buying an additional 401 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Trading Down 1.3 %

Shares of APP opened at $83.68 on Wednesday. The firm has a market capitalization of $27.53 billion, a P/E ratio of 49.81, a P/E/G ratio of 1.41 and a beta of 1.86. AppLovin Co. has a 12-month low of $25.24 and a 12-month high of $88.50. The firm has a 50-day moving average price of $79.73 and a 200 day moving average price of $63.91. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $973.70 million. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period last year, the business earned ($0.01) earnings per share. Sell-side analysts forecast that AppLovin Co. will post 2.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Wedbush upped their price target on shares of AppLovin from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Jefferies Financial Group upped their price target on shares of AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, May 9th. Finally, Daiwa Capital Markets began coverage on AppLovin in a research report on Monday, April 15th. They issued a “neutral” rating and a $80.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average target price of $71.72.

Insiders Place Their Bets

In related news, Director Dawson Alyssa Harvey sold 4,371 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $75.65, for a total transaction of $330,666.15. Following the transaction, the director now owns 11,565 shares in the company, valued at approximately $874,892.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Dawson Alyssa Harvey sold 4,371 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $75.65, for a total value of $330,666.15. Following the completion of the transaction, the director now owns 11,565 shares in the company, valued at approximately $874,892.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the transaction, the insider now directly owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The disclosure for this sale can be found here. Insiders sold 17,741,886 shares of company stock worth $1,478,219,330 in the last 90 days. Corporate insiders own 14.69% of the company’s stock.

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.