Ascent Group LLC Purchases 1,416 Shares of AppLovin Co. (NASDAQ:APP)

Ascent Group LLC grew its position in AppLovin Co. (NASDAQ:APP - Free Report) by 34.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,553 shares of the company's stock after acquiring an additional 1,416 shares during the quarter. Ascent Group LLC's holdings in AppLovin were worth $1,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. GHP Investment Advisors Inc. acquired a new position in AppLovin during the 4th quarter valued at approximately $25,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AppLovin in the 4th quarter worth about $25,000. Riverview Trust Co lifted its position 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 purchasing an additional 82 shares during the last quarter. Tucker Asset Management LLC bought a new position in AppLovin in the 4th quarter worth about $28,000. Finally, Hemington Wealth Management grew its position 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 during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,734 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $353.41, for a total value of $6,267,372.94. Following the completion of the sale, the chief technology officer now owns 70,889 shares in the company, valued at approximately $25,052,881.49. This trade represents a 20.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 33,700 shares of the business'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 transaction, the chief executive officer now owns 2,760,363 shares in the company, valued at $1,009,023,091.02. The trade was a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,315,754 shares of company stock worth $476,095,970 in the last quarter. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Trading Down 0.6%

Shares of AppLovin stock traded down $2.16 on Thursday, hitting $388.10. 3,172,047 shares of the company's stock traded hands, compared to its average volume of 6,053,594. The company has a fifty day moving average of $296.79 and a two-hundred day moving average of $327.05. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The company has a market capitalization of $131.33 billion, a price-to-earnings ratio of 85.48, a price-to-earnings-growth 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 announced 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. The firm 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 company's revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 earnings per share. As a group, sell-side analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on APP. Citigroup restated a "buy" rating on shares of AppLovin in a research note on Thursday. Morgan Stanley increased their price objective on shares of AppLovin from $350.00 to $420.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Bank of America boosted their target price on AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Oppenheimer reaffirmed an "outperform" rating and set a $500.00 price target (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Finally, Benchmark reissued a "buy" rating and issued a $525.00 price objective on shares of AppLovin in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $433.85.

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.