Whalen Wealth Management Inc. Takes Position in AppLovin Co. (NASDAQ:APP)

Whalen Wealth Management Inc. bought a new position in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 884 shares of the company’s stock, valued at approximately $286,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its stake in AppLovin by 139.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after acquiring an additional 89 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of AppLovin during the third quarter worth $25,000. Meeder Asset Management Inc. acquired a new position in AppLovin during the third quarter valued at $27,000. DT Investment Partners LLC purchased a new stake in AppLovin in the third quarter valued at $27,000. Finally, Avior Wealth Management LLC grew its position in AppLovin by 54.7% during the 4th quarter. Avior Wealth Management LLC now owns 215 shares of the company’s stock worth $70,000 after purchasing an additional 76 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Trading Up 6.9 %

Shares of NASDAQ APP opened at $361.72 on Thursday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $121.39 billion, a PE ratio of 109.61, a PEG ratio of 2.77 and a beta of 2.29. AppLovin Co. has a twelve month low of $40.71 and a twelve month high of $417.64. The stock has a fifty day simple moving average of $334.41 and a 200-day simple moving average of $194.53.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin’s revenue was up 38.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. On average, equities analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

APP has been the topic of several recent research reports. BTIG Research upped their price objective on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wedbush reissued an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Stifel Nicolaus lifted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Finally, Bank of America lifted their price target on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $355.41.

Insider Transactions at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 99,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the sale, the director now directly owns 621,209 shares in the company, valued at $204,688,365.50. This trade represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the transaction, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is currently owned by company insiders.

About AppLovin

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.