MGO One Seven LLC Purchases New Holdings in AppLovin Co. (NASDAQ:APP)

MGO One Seven LLC acquired a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 951 shares of the company's stock, valued at approximately $308,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin in the fourth quarter worth approximately $25,000. Riverview Trust Co lifted its stake in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. Tucker Asset Management LLC purchased a new position in AppLovin during the 4th quarter worth $28,000. Hemington Wealth Management grew its stake in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company's stock valued at $32,000 after purchasing an additional 62 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the sale, the chief executive officer now owns 2,869,492 shares of the company's stock, valued at approximately $1,179,045,567.88. The trade was a 1.52 % decrease in their position. The sale was disclosed in a document filed 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 transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares of the company's stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock valued at $106,401,841 over the last three months. 14.69% of the stock is owned by company insiders.

Analyst Ratings Changes

APP has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on shares of AppLovin from $538.00 to $386.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Piper Sandler decreased their price target on AppLovin from $575.00 to $425.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Morgan Stanley raised AppLovin from an "equal weight" rating to an "overweight" rating and cut their price objective for the stock from $470.00 to $350.00 in a research report on Thursday, April 10th. The Goldman Sachs Group decreased their target price on AppLovin from $500.00 to $335.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Arete Research set a $200.00 price target on shares of AppLovin in a report on Wednesday, March 5th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $415.15.

AppLovin Trading Down 6.8 %

NASDAQ APP traded down $19.57 during trading on Wednesday, hitting $269.31. 9,246,892 shares of the company's stock traded hands, compared to its average volume of 5,903,853. The firm has a market cap of $91.55 billion, a P/E ratio of 59.32, a PEG ratio of 3.02 and a beta of 2.39. The stock has a fifty day moving average of $283.75 and a two-hundred day moving average of $303.01. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15.

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, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. 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.