Avestar Capital LLC Acquires Shares of 1,689 AppLovin Co. (NASDAQ:APP)

Avestar Capital LLC bought a new position in AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,689 shares of the company’s stock, valued at approximately $547,000.

Several other institutional investors and hedge funds have also recently modified their holdings of APP. Capital Performance Advisors LLP bought a new position in AppLovin in the 3rd quarter valued at approximately $25,000. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin in the fourth quarter worth $25,000. DT Investment Partners LLC bought a new position in shares of AppLovin during the third quarter valued at $27,000. Meeder Asset Management Inc. purchased a new stake in shares of AppLovin during the third quarter valued at $27,000. Finally, Raleigh Capital Management Inc. bought a new stake in AppLovin in the 3rd quarter worth about $29,000. 41.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the sale, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the transaction, the chief technology officer now directly owns 3,919,024 shares in the company, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 828,991 shares of company stock worth $267,640,144 over the last ninety days. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

NASDAQ APP opened at $471.67 on Friday. The stock has a market cap of $158.29 billion, a price-to-earnings ratio of 142.93, a PEG ratio of 3.10 and a beta of 2.30. AppLovin Co. has a 12 month low of $45.59 and a 12 month high of $525.15. The company’s 50 day moving average is $349.15 and its two-hundred day moving average is $226.34. 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 (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. As a group, research analysts anticipate that AppLovin Co. will post 4.09 earnings per share for the current year.

Wall Street Analyst Weigh In

APP has been the topic of several research analyst reports. Stifel Nicolaus upped their target price on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Oppenheimer restated an “outperform” rating and set a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a research report on Thursday. Citigroup lifted their target price on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. BTIG Research increased their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Piper Sandler raised their price target on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $422.18.

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.