Avior Wealth Management LLC lifted its holdings in shares of AppLovin Co. (NASDAQ:APP – Free Report) by 54.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 215 shares of the company’s stock after purchasing an additional 76 shares during the quarter. Avior Wealth Management LLC’s holdings in AppLovin were worth $70,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. National Bank of Canada FI increased its stake in shares of AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after purchasing an additional 39 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after purchasing an additional 53 shares during the last quarter. Great Valley Advisor Group Inc. increased its stake in shares of AppLovin by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after purchasing an additional 60 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of AppLovin by 139.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock worth $50,000 after purchasing an additional 89 shares during the last quarter. Finally, HM Payson & Co. increased its stake in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.
AppLovin Price Performance
Shares of APP stock opened at $366.34 on Thursday. AppLovin Co. has a 12-month low of $40.71 and a 12-month high of $417.64. The firm has a market capitalization of $122.94 billion, a price-to-earnings ratio of 111.01, a price-to-earnings-growth ratio of 2.96 and a beta of 2.29. 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 firm has a fifty day moving average of $339.92 and a 200-day moving average of $204.14.
Insider Activity
In related news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the sale, the chief executive officer now directly owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 in the last quarter. Company insiders own 14.69% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently commented on APP shares. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Bank of America upped their price objective on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 25th. BTIG Research upped their price target on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Benchmark started coverage on AppLovin in a research report on Friday, January 10th. They issued a “buy” rating and a $375.00 price target on the stock. Finally, Citigroup raised their price target on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $366.29.
Check Out Our Latest Report on APP
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.
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