SeaCrest Wealth Management LLC Takes Position in AppLovin Co. (NASDAQ:APP)

SeaCrest Wealth Management LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,590 shares of the company’s stock, valued at approximately $387,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APP. Measured Wealth Private Client Group LLC acquired a new position in shares of AppLovin during the 1st quarter valued at about $210,000. Allspring Global Investments Holdings LLC increased its position in AppLovin by 177.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 340,823 shares of the company’s stock worth $23,592,000 after purchasing an additional 217,887 shares during the last quarter. Oak Thistle LLC purchased a new position in AppLovin during the first quarter worth approximately $284,000. Diversified Trust Co acquired a new position in shares of AppLovin in the 1st quarter valued at $233,000. Finally, DeDora Capital Inc. grew its stake in shares of AppLovin by 1.8% during the 1st quarter. DeDora Capital Inc. now owns 9,596 shares of the company’s stock valued at $664,000 after buying an additional 166 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the sale, the insider now owns 471,560 shares in the company, valued at $35,371,715.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other AppLovin news, insider Victoria Valenzuela sold 50,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the sale, the insider now directly owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig Scott Billings sold 5,620 shares of AppLovin stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $84.97, for a total transaction of $477,531.40. Following the completion of the transaction, the director now directly owns 1,780 shares of the company’s stock, valued at $151,246.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,741,886 shares of company stock valued at $1,478,219,330. Insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on APP. The Goldman Sachs Group increased their target price on AppLovin from $73.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Wedbush boosted their target price on AppLovin from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Citigroup raised their price target on shares of AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a report on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday, May 9th. Finally, TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.72.

AppLovin Stock Performance

Shares of APP opened at $83.68 on Wednesday. AppLovin Co. has a 52-week low of $25.24 and a 52-week high of $88.50. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 4.59. The firm has a market cap of $27.53 billion, a price-to-earnings ratio of 49.81, a PEG ratio of 1.41 and a beta of 1.86. The business’s 50 day moving average is $79.73 and its two-hundred day moving average is $63.91.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.06 billion for 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 firm’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. Analysts forecast that AppLovin Co. will post 2.96 EPS for the current fiscal year.

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.