Global Strategic Investment Solutions LLC Acquires New Holdings in AppLovin Co. (NASDAQ:APP)

Global Strategic Investment Solutions LLC acquired a new stake in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,437 shares of the company’s stock, valued at approximately $465,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fidelis Capital Partners LLC bought a new stake in AppLovin in the fourth quarter worth about $389,000. SBI Securities Co. Ltd. bought a new stake in AppLovin in the fourth quarter worth about $1,503,000. Jones Financial Companies Lllp raised its position in AppLovin by 509.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,903 shares of the company’s stock worth $616,000 after acquiring an additional 1,591 shares in the last quarter. 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 in the last quarter. Finally, Norden Group LLC bought a new stake in AppLovin in the fourth quarter worth about $393,000. 41.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the sale, the insider now directly owns 372,205 shares in the company, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,947 shares of company stock valued at $75,810,416 over the last ninety days. Corporate insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $337.34 on Tuesday. 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 one year low of $59.30 and a one year high of $525.15. The business’s 50-day moving average price is $367.64 and its two-hundred day moving average price is $257.15. The company has a market capitalization of $113.21 billion, a P/E ratio of 74.30, a price-to-earnings-growth ratio of 3.02 and a beta of 2.30.

AppLovin (NASDAQ:APP) last announced 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 return on equity of 188.55% and a net margin of 33.54%. Analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on APP shares. Macquarie boosted their price target on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Loop Capital boosted their price target on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. BTIG Research raised their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $280.00 in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $452.29.

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.