Abacus FCF Advisors LLC Acquires 1,120 Shares of AppLovin Co. (NASDAQ:APP)

Abacus FCF Advisors LLC boosted its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 2.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,017 shares of the company's stock after purchasing an additional 1,120 shares during the quarter. AppLovin comprises 2.4% of Abacus FCF Advisors LLC's portfolio, making the stock its 13th largest position. Abacus FCF Advisors LLC's holdings in AppLovin were worth $15,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. purchased a new position in shares of AppLovin in the fourth quarter worth $25,000. Riverview Trust Co increased its holdings 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 last quarter. Tucker Asset Management LLC purchased a new stake in AppLovin in the 4th quarter worth $28,000. Hemington Wealth Management lifted its stake in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Finally, Smithfield Trust Co bought a new position in shares of AppLovin during the 4th quarter valued at about $32,000. Institutional investors own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a report on Wednesday, May 28th. UBS Group boosted their price target on shares of AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. lifted their target price on AppLovin from $355.00 to $400.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group increased their price objective on AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $438.10.

Insider Activity at AppLovin

In related news, Director Craig Scott Billings sold 12,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $353.12, for a total transaction of $4,237,440.00. Following the sale, the director now owns 2,987 shares in the company, valued at approximately $1,054,769.44. This represents a 80.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 6,585 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $370.23, for a total value of $2,437,964.55. Following the transaction, the insider now owns 357,903 shares of the company's stock, valued at $132,506,427.69. This trade represents a 1.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,211,468 shares of company stock valued at $454,489,290. 14.69% of the stock is owned by corporate insiders.

AppLovin Stock Performance

NASDAQ APP traded down $6.77 during trading hours on Friday, reaching $373.81. 1,735,173 shares of the company were exchanged, compared to its average volume of 6,089,865. The business's 50 day simple moving average is $321.71 and its 200-day simple moving average is $333.90. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The stock has a market capitalization of $126.49 billion, a P/E ratio of 82.18, a P/E/G ratio of 3.02 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results 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 business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The firm's revenue was up 40.3% on a year-over-year basis. On average, equities research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

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.