GG Group Ventures LLC Takes Position in AppLovin Co. (NASDAQ:APP)

GG Group Ventures LLC purchased a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,933 shares of the company's stock, valued at approximately $626,000. AppLovin comprises 0.8% of GG Group Ventures LLC's portfolio, making the stock its 29th biggest position.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on APP. HSBC set a $436.00 price target on AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Citigroup lifted their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price objective on shares of AppLovin from $475.00 to $270.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group dropped their target price on shares of AppLovin from $500.00 to $335.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $415.15.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 306,900 shares of company stock worth $106,401,841. Company insiders own 14.69% of the company's stock.

AppLovin Stock Up 3.8 %

NASDAQ APP traded up $10.18 during trading on Thursday, reaching $279.49. 5,894,625 shares of the company's stock were exchanged, compared to its average volume of 5,925,783. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The stock has a market cap of $95.01 billion, a P/E ratio of 61.56, a price-to-earnings-growth 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. The company has a 50 day moving average price of $278.21 and a two-hundred day moving average price of $303.70.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, equities research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal 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.