Peak Retirement Planning Inc. Purchases New Position in AppLovin Co. (NASDAQ:APP)

Peak Retirement Planning Inc. bought a new stake in AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,982 shares of the company's stock, valued at approximately $969,000.

A number of other hedge funds also recently modified their holdings of the business. FMR LLC increased its holdings in AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after purchasing an additional 5,957,885 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of AppLovin in the fourth quarter valued at about $1,781,922,000. Baillie Gifford & Co. boosted its position in shares of AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock worth $1,322,682,000 after buying an additional 4,010,520 shares during the period. Norges Bank bought a new position in shares of AppLovin during the fourth quarter worth about $828,138,000. Finally, Arrowstreet Capital Limited Partnership raised its position in AppLovin by 457.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock valued at $936,888,000 after buying an additional 2,373,885 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. FBN Securities initiated coverage on AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 price target for the company. Benchmark restated a "buy" rating and set a $525.00 target price on shares of AppLovin in a report on Thursday, May 8th. Jefferies Financial Group raised their target price on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. UBS Group boosted their price target on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Bank of America increased their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, AppLovin has an average rating of "Moderate Buy" and a consensus target price of $433.85.

AppLovin Stock Performance

Shares of APP stock traded up $2.82 during midday trading on Monday, hitting $354.29. 5,314,732 shares of the company were exchanged, compared to its average volume of 6,055,840. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The firm has a market capitalization of $119.89 billion, a P/E ratio of 78.04, a PEG ratio of 3.02 and a beta of 2.39. The firm's 50 day moving average price is $292.64 and its two-hundred day moving average price is $325.78. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

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

Insider Transactions at AppLovin

In other news, Director Herald Y. Chen sold 400,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the sale, the director now directly owns 221,209 shares of the company's stock, valued at approximately $82,867,103.49. This represents a 64.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 56,300 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $363.64, for a total value of $20,472,932.00. Following the completion of the transaction, the chief executive officer now directly owns 2,860,363 shares of the company's stock, valued at approximately $1,040,142,401.32. This trade represents a 1.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,233,254 shares of company stock valued at $446,927,149. 14.69% of the stock is currently owned by corporate insiders.

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.