Integrated Wealth Concepts LLC Takes $347,000 Position in AppLovin Co. (NASDAQ:APP)

Integrated Wealth Concepts LLC purchased a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,071 shares of the company's stock, valued at approximately $347,000.

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

AppLovin Trading Down 1.9 %

Shares of APP traded down $5.74 during mid-day trading on Monday, reaching $301.84. The company's stock had a trading volume of 4,438,137 shares, compared to its average volume of 5,949,861. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The company's fifty day moving average price is $276.82 and its two-hundred day moving average price is $307.08. The stock has a market cap of $102.61 billion, a PE ratio of 66.48, a P/E/G ratio of 3.02 and a beta of 2.39.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Loop Capital reissued a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. JPMorgan Chase & Co. lowered their price target on shares of AppLovin from $475.00 to $270.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. HSBC set a $436.00 price objective on shares of AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Wells Fargo & Company lowered their target price on shares of AppLovin from $538.00 to $386.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Oppenheimer restated an "outperform" rating and set a $560.00 target price on shares of AppLovin in a research report on Thursday, March 27th. One equities 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $415.15.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by insiders.

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.