2,031 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Heck Capital Advisors LLC

Heck Capital Advisors LLC bought a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,031 shares of the company's stock, valued at approximately $658,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in AppLovin by 92.5% in the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock worth $41,643,000 after acquiring an additional 153,248 shares during the last quarter. Tcfg Wealth Management LLC bought a new stake in AppLovin in the 4th quarter worth approximately $369,000. Caprock Group LLC increased its stake in AppLovin by 42.2% in the 4th quarter. Caprock Group LLC now owns 42,146 shares of the company's stock worth $13,648,000 after acquiring an additional 12,500 shares during the last quarter. Capital Advisory Group Advisory Services LLC bought a new stake in AppLovin in the 4th quarter worth approximately $213,000. Finally, Jennison Associates LLC bought a new stake in AppLovin in the 4th quarter worth approximately $414,462,000. Institutional investors own 41.85% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on APP. Jefferies Financial Group boosted their target price 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 boosted their target price on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. UBS Group boosted their target price on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Citigroup reissued a "buy" rating on shares of AppLovin in a research report on Thursday. Finally, Loop Capital reissued a "buy" rating and set 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 issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AppLovin presently has an average rating of "Moderate Buy" and a consensus price target of $433.85.

Insider Activity

In other news, Director Herald Y. Chen sold 400,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $374.61, for a total value of $149,844,000.00. Following the transaction, the director now directly owns 221,209 shares of the company's stock, valued at approximately $82,867,103.49. This represents a 64.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 33,700 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,760,363 shares in the company, valued at $1,009,023,091.02. This represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,315,754 shares of company stock valued at $476,095,970. Company insiders own 14.69% of the company's stock.

AppLovin Stock Down 1.1%

NASDAQ:APP traded down $4.44 during mid-day trading on Thursday, hitting $385.82. 3,333,219 shares of the company's stock traded hands, compared to its average volume of 6,054,175. The company has a fifty day moving average of $296.79 and a 200 day moving average of $327.05. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a market capitalization of $130.56 billion, a P/E ratio of 85.14, a P/E/G ratio of 3.02 and a beta of 2.39. 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 announced its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the company posted $0.67 EPS. The firm's quarterly revenue was up 40.3% compared to the same quarter last year. On average, analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

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.