Integrated Advisors Network LLC Acquires New Holdings in AppLovin Co. (NASDAQ:APP)

Integrated Advisors Network LLC purchased a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 881 shares of the company's stock, valued at approximately $285,000.

Other large investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its holdings in shares of AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company's stock worth $34,000 after buying an additional 29 shares during the period. HighPoint Advisor Group LLC boosted its position in AppLovin by 1.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock valued at $590,000 after acquiring an additional 31 shares in the last quarter. Quadrant Capital Group LLC boosted its position in AppLovin by 6.7% during the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock valued at $170,000 after acquiring an additional 33 shares in the last quarter. Forum Financial Management LP boosted its position in AppLovin by 0.9% during the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock valued at $1,223,000 after acquiring an additional 33 shares in the last quarter. Finally, Truvestments Capital LLC boosted its position in AppLovin by 0.7% during the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company's stock valued at $1,696,000 after acquiring an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on APP. Jefferies Financial Group boosted their price target on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Morgan Stanley raised their target price on AppLovin from $350.00 to $420.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Wells Fargo & Company increased their price target on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Bank of America raised their price objective on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group increased their price target on shares of AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AppLovin presently has an average rating of "Moderate Buy" and a consensus price target of $433.85.

AppLovin Stock Down 0.9%

Shares of APP traded down $3.35 during midday trading on Friday, reaching $380.88. The stock had a trading volume of 7,834,410 shares, compared to its average volume of 6,091,676. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The company's fifty day simple moving average is $298.37 and its two-hundred day simple moving average is $328.36. The company has a market cap of $128.88 billion, a price-to-earnings ratio of 83.89, a PEG ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

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

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 400,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the completion of the transaction, the director now owns 221,209 shares of the company's stock, valued at approximately $82,867,103.49. This represents a 64.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 171,420 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $373.77, for a total transaction of $64,071,653.40. Following the completion of the sale, the director now directly owns 221,209 shares of the company's stock, valued at $82,681,287.93. The trade was a 43.66% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,115,754 shares of company stock valued at $411,165,970. Corporate insiders own 14.69% of the company's stock.

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.