Precision Wealth Strategies LLC Increases Position in AppLovin Co. (NASDAQ:APP)

Precision Wealth Strategies LLC increased its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 15.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,487 shares of the company's stock after purchasing an additional 715 shares during the quarter. AppLovin accounts for 1.1% of Precision Wealth Strategies LLC's investment portfolio, making the stock its 21st largest position. Precision Wealth Strategies LLC's holdings in AppLovin were worth $1,454,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. FMR LLC increased its holdings in AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after acquiring an additional 5,957,885 shares in the last quarter. SVB Wealth LLC purchased a new position in AppLovin during the 4th quarter valued at about $1,781,922,000. Baillie Gifford & Co. increased its holdings in AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after acquiring an additional 4,010,520 shares in the last quarter. Norges Bank purchased a new position in AppLovin during the 4th quarter valued at about $828,138,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in AppLovin by 457.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock valued at $936,888,000 after acquiring an additional 2,373,885 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on APP shares. HSBC set a $436.00 target price on shares of AppLovin and gave the company a "buy" rating in a report on Wednesday, April 23rd. FBN Securities started coverage on shares of AppLovin in a report on Friday, March 28th. They set an "outperform" rating and a $385.00 target price for the company. Citigroup restated a "buy" rating on shares of AppLovin in a report on Thursday, May 29th. Arete Research set a $200.00 target price on shares of AppLovin in a report on Wednesday, March 5th. Finally, Benchmark reaffirmed a "buy" rating and set a $525.00 price target 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus price target of $438.10.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 6,585 shares of AppLovin stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $370.23, for a total transaction of $2,437,964.55. Following the transaction, the insider now directly owns 357,903 shares of the company's stock, valued at $132,506,427.69. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Craig Scott Billings sold 12,000 shares of AppLovin stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $353.12, for a total transaction of $4,237,440.00. Following the transaction, the director now directly owns 2,987 shares in the company, valued at approximately $1,054,769.44. This trade represents a 80.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,212,968 shares of company stock valued at $455,062,980 over the last ninety days. Corporate insiders own 13.66% of the company's stock.

AppLovin Price Performance

APP opened at $364.49 on Monday. The company's 50 day simple moving average is $324.29 and its 200 day simple moving average is $334.22. 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 Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The stock has a market capitalization of $123.34 billion, a PE ratio of 80.28, a P/E/G ratio of 3.02 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results 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 business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the company earned $0.67 earnings per share. The company's quarterly revenue was up 40.3% on a year-over-year basis. As a group, sell-side analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.