HBW Advisory Services LLC Makes New Investment in AppLovin Co. (NASDAQ:APP)

HBW Advisory Services LLC bought a new stake in AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 998 shares of the company’s stock, valued at approximately $323,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fulton Bank N.A. boosted its stake in AppLovin by 12.1% in the fourth quarter. Fulton Bank N.A. now owns 8,429 shares of the company’s stock worth $2,730,000 after purchasing an additional 908 shares in the last quarter. Range Financial Group LLC bought a new position in shares of AppLovin in the fourth quarter valued at about $2,237,000. Diversified Trust Co lifted its position in AppLovin by 27.1% during the 4th quarter. Diversified Trust Co now owns 5,034 shares of the company’s stock worth $1,630,000 after buying an additional 1,072 shares in the last quarter. Silverleafe Capital Partners LLC bought a new stake in AppLovin during the 4th quarter worth about $963,000. Finally, CWA Asset Management Group LLC increased its position in AppLovin by 26.6% in the 4th quarter. CWA Asset Management Group LLC now owns 16,768 shares of the company’s stock valued at $5,430,000 after acquiring an additional 3,520 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Down 3.3 %

Shares of AppLovin stock opened at $318.48 on Friday. AppLovin Co. has a 1 year low of $39.43 and a 1 year high of $417.64. 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 market capitalization of $106.88 billion, a P/E ratio of 96.51, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. The business has a 50-day moving average of $318.41 and a two-hundred day moving average of $180.45.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company posted $0.30 EPS. The business’s quarterly revenue was up 38.6% on a year-over-year basis. As a group, equities analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on APP. Bank of America raised their price target on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a report on Monday, November 25th. Piper Sandler assumed coverage on AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price for the company. Jefferies Financial Group raised their price target on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and raised their target price for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $337.71.

Insiders Place Their Bets

In related news, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dawson Alyssa Harvey sold 500 shares of AppLovin stock in a transaction on Friday, December 6th. The shares were sold at an average price of $406.27, for a total transaction of $203,135.00. Following the completion of the sale, the director now owns 6,684 shares in the company, valued at $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 888,867 shares of company stock worth $284,773,062. Corporate 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.