733 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Matrix Trust Co

Matrix Trust Co purchased a new position in AppLovin Co. (NASDAQ:APP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 733 shares of the company's stock, valued at approximately $194,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APP. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin in the 4th quarter worth about $25,000. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin in the 4th quarter valued at about $25,000. Riverview Trust Co raised its stake in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares during the period. Tucker Asset Management LLC bought a new stake in AppLovin in the 4th quarter valued at about $28,000. Finally, Hemington Wealth Management raised its stake in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after acquiring an additional 40 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APP has been the topic of a number of research reports. The Goldman Sachs Group boosted their price objective on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Loop Capital restated a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a research note on Friday, March 28th. Jefferies Financial Group boosted their price objective on AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company boosted their price objective on AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, Oppenheimer reiterated an "outperform" rating and set a $500.00 price target (down from $560.00) on shares of AppLovin 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 issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $436.10.

AppLovin Stock Down 0.6%

Shares of NASDAQ APP opened at $414.11 on Friday. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $140.13 billion, a price-to-earnings ratio of 91.21, a PEG ratio of 3.02 and a beta of 2.53. The business has a 50-day moving average of $308.46 and a 200-day moving average of $331.62.

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

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 33,700 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 2,760,363 shares of the company's stock, valued at $1,009,023,091.02. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. This represents a 16.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,115,754 shares of company stock valued at $411,165,970. 14.69% of the stock is owned by corporate insiders.

AppLovin 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.

Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Co. (NASDAQ:APP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.