Vestmark Advisory Solutions Inc. Makes New $550,000 Investment in AppLovin Co. (NASDAQ:APP)

Vestmark Advisory Solutions Inc. bought a new position in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,699 shares of the company’s stock, valued at approximately $550,000.

Several other large investors have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of AppLovin during the 3rd quarter valued at about $25,000. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin during the 4th quarter valued at about $25,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin during the 3rd quarter valued at about $27,000. Riverview Trust Co boosted its position in shares of 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 during the last quarter. Finally, Hemington Wealth Management boosted its position in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of AppLovin stock opened at $270.48 on Friday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The business’s 50 day simple moving average is $363.84 and its two-hundred day simple moving average is $261.76. The stock has a market capitalization of $90.77 billion, a P/E ratio of 59.58, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a one year low of $59.30 and a one year high of $525.15.

AppLovin (NASDAQ:APP) last posted its 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 forecast that AppLovin Co. will post 6.87 EPS for the current year.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the sale, the director now owns 621,209 shares in the company, valued at $204,688,365.50. This represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 406,447 shares of company stock valued at $140,537,281. Company insiders own 14.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APP. Loop Capital lifted their price target on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Jefferies Financial Group lifted their price target on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Stifel Nicolaus lifted their price target on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, Citigroup raised their price objective on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price 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.