Wealth High Governance Capital Ltda Acquires Shares of 31,000 AppLovin Co. (NASDAQ:APP)

Wealth High Governance Capital Ltda bought a new position in AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 31,000 shares of the company’s stock, valued at approximately $10,039,000. AppLovin comprises 3.6% of Wealth High Governance Capital Ltda’s holdings, making the stock its 9th largest holding.

Several other institutional investors also recently modified their holdings of the business. GHP Investment Advisors Inc. purchased a new position in AppLovin in the fourth quarter valued at about $25,000. Riverview Trust Co lifted its stake in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after purchasing an additional 82 shares during the last quarter. Hemington Wealth Management grew its holdings in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Fifth Third Bancorp increased its position in AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares during the last quarter. Finally, Smithfield Trust Co bought a new stake in shares of AppLovin in the fourth quarter valued at $32,000. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Performance

NASDAQ APP opened at $257.76 on Wednesday. The company has a market capitalization of $87.63 billion, a P/E ratio of 56.78, a P/E/G ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 52-week low of $59.92 and a 52-week high of $525.15. The company has a fifty day moving average of $360.57 and a 200-day moving average of $265.20.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, equities research analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Arete Research set a $200.00 price objective on AppLovin in a report on Wednesday, March 5th. Wells Fargo & Company set a $538.00 price target on shares of AppLovin and gave the company an “overweight” rating in a research report on Thursday, February 27th. Bank of America lifted their price objective on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. UBS Group raised their price target on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Macquarie boosted their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

Insider Buying and Selling at AppLovin

In other news, Director Herald Y. Chen sold 99,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at approximately $204,688,365.50. This trade represents a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $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 have sold 404,371 shares of company stock worth $139,793,507 over the last ninety days. Insiders own 14.69% of the company’s stock.

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.