AppLovin Co. (NASDAQ:APP) Shares Acquired by Centaurus Financial Inc.

Centaurus Financial Inc. grew its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 3.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 27,601 shares of the company's stock after purchasing an additional 997 shares during the period. Centaurus Financial Inc.'s holdings in AppLovin were worth $8,938,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin in the 4th quarter worth approximately $25,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of AppLovin in the 4th quarter worth approximately $25,000. Riverview Trust Co boosted its stake in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after buying an additional 82 shares during the last quarter. Tucker Asset Management LLC purchased a new position in AppLovin in the fourth quarter valued at approximately $28,000. Finally, Hemington Wealth Management lifted its stake in AppLovin by 78.4% in 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. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 56,300 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $363.64, for a total transaction of $20,472,932.00. Following the transaction, the chief executive officer now directly owns 2,860,363 shares in the company, valued at approximately $1,040,142,401.32. This represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,315,754 shares of company stock worth $476,095,970. Corporate insiders own 14.69% of the company's stock.

Analysts Set New Price Targets

APP has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Wells Fargo & Company raised their price target on AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Jefferies Financial Group raised their price target on AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. The Goldman Sachs Group raised 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. Finally, FBN Securities assumed coverage on AppLovin in a research note on Friday, March 28th. They issued an "outperform" rating and a $385.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $433.85.

AppLovin Price Performance

APP stock traded up $9.35 during trading on Wednesday, hitting $390.26. The stock had a trading volume of 6,747,908 shares, compared to its average volume of 6,064,715. 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 Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The stock has a market capitalization of $132.06 billion, a P/E ratio of 85.96, a PEG ratio of 3.02 and a beta of 2.39. The company's 50-day moving average price is $296.79 and its two-hundred day moving average price is $327.05.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion for 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 business's revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. As a group, research analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

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.