Bay Rivers Group Has $570,000 Holdings in AppLovin Co. (NASDAQ:APP)

Bay Rivers Group boosted its position in AppLovin Co. (NASDAQ:APP - Free Report) by 73.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,153 shares of the company's stock after buying an additional 913 shares during the quarter. Bay Rivers Group's holdings in AppLovin were worth $570,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin during the fourth quarter valued at about $25,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of AppLovin in the fourth quarter valued at approximately $25,000. Riverview Trust Co boosted its stake in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after purchasing an additional 82 shares in the last quarter. Tucker Asset Management LLC acquired a new position in AppLovin during the 4th quarter worth about $28,000. Finally, Hemington Wealth Management grew its stake in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

Analysts Set New Price Targets

APP has been the topic of several recent research reports. Bank of America raised their price target on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Loop Capital restated a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a research report on Friday, March 28th. Arete Research set a $200.00 target price on shares of AppLovin in a report on Wednesday, March 5th. Morgan Stanley boosted their price target on AppLovin from $350.00 to $420.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Jefferies Financial Group increased their target price on shares of AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. One 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 company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $436.10.

AppLovin Stock Performance

Shares of APP stock traded up $3.75 during midday trading on Friday, hitting $417.89. 5,234,009 shares of the company were exchanged, compared to its average volume of 6,099,526. 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 $141.41 billion, a P/E ratio of 92.05, a PEG ratio of 3.02 and a beta of 2.53. The firm's 50 day moving average price is $308.46 and its two-hundred day moving average price is $331.62. 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 the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the business posted $0.67 earnings per share. The business's revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, equities research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, Director Herald Y. Chen sold 400,000 shares of AppLovin stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total value of $149,844,000.00. Following the completion of the sale, the director now directly owns 221,209 shares in the company, valued at approximately $82,867,103.49. The trade was a 64.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 33,700 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were 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 approximately $1,009,023,091.02. This trade represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,115,754 shares of company stock valued at $411,165,970 in the last ninety days. 14.69% of the stock is currently owned by corporate insiders.

About AppLovin

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.