Sequoia Financial Advisors LLC Takes $824,000 Position in AppLovin Co. (NASDAQ:APP)

Sequoia Financial Advisors LLC bought a new position in AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 20,667 shares of the company's stock, valued at approximately $824,000.

A number of other institutional investors have also bought and sold shares of the business. BluePath Capital Management LLC purchased a new stake in shares of AppLovin during the 3rd quarter valued at approximately $33,000. Tower Research Capital LLC TRC raised its position in shares of AppLovin by 86.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 927 shares of the company's stock valued at $37,000 after buying an additional 429 shares during the period. Castleview Partners LLC purchased a new stake in shares of AppLovin during the 3rd quarter valued at approximately $38,000. Cullen Frost Bankers Inc. purchased a new stake in shares of AppLovin during the 3rd quarter valued at approximately $44,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of AppLovin during the 3rd quarter valued at approximately $45,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Price Performance

APP traded up $0.89 on Tuesday, hitting $72.32. 2,810,885 shares of the company were exchanged, compared to its average volume of 4,164,529. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. The business's fifty day moving average is $63.94 and its 200 day moving average is $48.44. AppLovin Co. has a fifty-two week low of $15.41 and a fifty-two week high of $79.55. The firm has a market capitalization of $24.73 billion, a P/E ratio of 72.32, a price-to-earnings-growth ratio of 1.53 and a beta of 1.90.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The company had revenue of $953.26 million for the quarter, compared to analyst estimates of $928.66 million. During the same period in the prior year, the business posted ($0.21) earnings per share. The firm's revenue for the quarter was up 35.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that AppLovin Co. will post 2.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APP. TheStreet upgraded shares of AppLovin from a "d+" rating to a "c-" rating in a report on Friday, March 8th. UBS Group boosted their price target on shares of AppLovin from $46.00 to $55.00 and gave the stock a "neutral" rating in a research note on Thursday, February 15th. HSBC assumed coverage on shares of AppLovin in a research note on Monday, December 18th. They issued a "buy" rating and a $53.20 price target for the company. BTIG Research boosted their price target on shares of AppLovin from $65.00 to $87.00 and gave the stock a "buy" rating in a research note on Tuesday, April 9th. Finally, Oppenheimer boosted their price target on shares of AppLovin from $70.00 to $85.00 and gave the stock an "outperform" rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.31.

Insider Activity

In other news, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the sale, the insider now directly owns 546,560 shares in the company, valued at $31,569,305.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Craig Scott Billings sold 5,550 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction of $323,731.50. Following the transaction, the director now owns 12,739 shares of the company's stock, valued at $743,065.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victoria Valenzuela sold 2,890 shares of the company's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the transaction, the insider now directly owns 546,560 shares in the company, valued at approximately $31,569,305.60. The disclosure for this sale can be found here. Insiders have sold 61,215 shares of company stock worth $4,416,815 over the last ninety days. 12.43% 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.