MONECO Advisors LLC Purchases New Position in AppLovin Co. (NASDAQ:APP)

MONECO Advisors LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 867 shares of the company’s stock, valued at approximately $281,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Panview Capital Ltd acquired a new stake in AppLovin in the 4th quarter worth about $214,084,000. Valliance Asset Management Ltd acquired a new stake in AppLovin in the 4th quarter worth about $1,619,000. Sigma Planning Corp acquired a new stake in AppLovin in the 4th quarter worth about $812,000. Peregrine Asset Advisers Inc. acquired a new stake in AppLovin in the 4th quarter worth about $4,485,000. Finally, Capital Advisory Group Advisory Services LLC acquired a new stake in AppLovin in the 4th quarter worth about $213,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Mary Margaret Hasti Georgiadis sold 30,500 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $339.69, for a total value of $10,360,545.00. Following the sale, the director now owns 154,500 shares of the company’s stock, valued at $52,482,105. The trade was a 16.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Arash Adam Foroughi sold 44,400 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the sale, the chief executive officer now directly owns 2,869,492 shares in the company, valued at approximately $1,179,045,567.88. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,372 shares of company stock valued at $92,519,099 over the last quarter. 14.69% of the stock is owned by company insiders.

AppLovin Trading Down 8.1 %

APP opened at $377.06 on Wednesday. AppLovin Co. has a one year low of $57.40 and a one year high of $525.15. The stock has a market capitalization of $126.54 billion, a PE ratio of 83.05, a P/E/G ratio of 3.02 and a beta of 2.30. The business’s 50 day moving average price is $367.70 and its 200 day moving average price is $250.18. 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 (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating 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 expect that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on APP. Piper Sandler lifted their price objective on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted 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. Loop Capital boosted their target price on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Jefferies Financial Group boosted their target price on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Stifel Nicolaus boosted their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $442.18.

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.