Peak Retirement Planning Inc. Buys New Stake in AppLovin Co. (NASDAQ:APP)

Peak Retirement Planning Inc. purchased a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,982 shares of the company's stock, valued at approximately $969,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new stake in AppLovin during the fourth quarter valued at about $25,000. GHP Investment Advisors Inc. purchased a new stake in AppLovin during the 4th quarter valued at about $25,000. Riverview Trust Co grew its position in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after acquiring an additional 82 shares during the last quarter. Tucker Asset Management LLC purchased a new position in AppLovin in the 4th quarter worth approximately $28,000. Finally, Hemington Wealth Management lifted its position in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Up 0.6%

Shares of NASDAQ:APP traded up $2.21 on Wednesday, hitting $383.12. 3,727,751 shares of the company traded hands, compared to its average volume of 6,053,496. The stock has a 50 day simple moving average of $295.26 and a 200-day simple moving average of $326.61. 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 company has a market cap of $129.64 billion, a PE ratio of 84.29, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. AppLovin's revenue was up 40.3% compared to the same quarter last year. During the same period last year, the business earned $0.67 EPS. As a group, research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 6,585 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $370.23, for a total value of $2,437,964.55. Following the transaction, the insider now directly owns 357,903 shares in the company, valued at $132,506,427.69. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 33,700 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $365.54, for a total value of $12,318,698.00. Following the completion of the transaction, the chief executive officer now directly owns 2,760,363 shares of the company's stock, valued at approximately $1,009,023,091.02. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,233,254 shares of company stock worth $446,927,149 in the last three months. Insiders own 14.69% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on APP. Piper Sandler lifted their target price on shares of AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Morgan Stanley upped their price objective on shares of AppLovin from $350.00 to $420.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. UBS Group boosted their price target on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Citigroup increased their price objective on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company lifted their price objective on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $433.85.

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.