Heck Capital Advisors LLC Buys New Stake in AppLovin Co. (NASDAQ:APP)

Heck Capital Advisors LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,031 shares of the company's stock, valued at approximately $658,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after buying an additional 5,957,885 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at about $1,781,922,000. Baillie Gifford & Co. grew its stake in shares of AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after buying an additional 4,010,520 shares in the last quarter. Norges Bank acquired a new stake in shares of AppLovin in the fourth quarter valued at about $828,138,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of AppLovin by 457.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock valued at $936,888,000 after buying an additional 2,373,885 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Performance

AppLovin stock traded up $26.62 during mid-day trading on Tuesday, hitting $380.91. 7,674,411 shares of the company's stock traded hands, compared to its average volume of 6,062,350. The firm has a 50 day moving average price of $293.78 and a 200 day moving average price of $326.23. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market cap of $128.89 billion, a PE ratio of 83.90, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15.

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 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 net margin of 33.54% and a return on equity of 188.55%. The firm's revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period last year, the firm posted $0.67 earnings per share. On average, equities analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now owns 621,209 shares of the company's stock, valued at approximately $201,675,501.85. This trade represents a 24.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 6,585 shares of AppLovin stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $370.23, for a total value of $2,437,964.55. Following the completion of the transaction, the insider now directly owns 357,903 shares in the company, valued at $132,506,427.69. This represents a 1.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,233,254 shares of company stock valued at $446,927,149 over the last three months. Company insiders own 14.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on APP shares. UBS Group increased their target price on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Morgan Stanley raised their price objective on AppLovin from $350.00 to $420.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. lifted their target price on AppLovin from $270.00 to $355.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Oppenheimer reiterated an "outperform" rating and issued a $500.00 target price (down previously from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Finally, Loop Capital reiterated a "buy" rating and issued a $650.00 target price on shares of AppLovin in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $433.85.

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.