K.J. Harrison & Partners Inc Buys Shares of 640 AppLovin Co. (NASDAQ:APP)

K.J. Harrison & Partners Inc purchased a new position in shares of AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 640 shares of the company’s stock, valued at approximately $219,000.

Several other large investors have also made changes to their positions in APP. New York Life Investment Management LLC bought a new stake in AppLovin during the fourth quarter worth $201,000. NewEdge Wealth LLC raised its holdings in shares of AppLovin by 8.4% during the 4th quarter. NewEdge Wealth LLC now owns 18,528 shares of the company’s stock worth $6,000,000 after buying an additional 1,442 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in shares of AppLovin during the 4th quarter worth $1,389,000. Lake Street Advisors Group LLC boosted its stake in AppLovin by 3.4% in the fourth quarter. Lake Street Advisors Group LLC now owns 5,425 shares of the company’s stock valued at $1,757,000 after buying an additional 177 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in AppLovin by 103.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 40,362 shares of the company’s stock valued at $13,070,000 after acquiring an additional 20,543 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Down 3.2 %

AppLovin stock opened at $320.49 on Friday. The firm has a market capitalization of $107.55 billion, a price-to-earnings ratio of 70.59, a P/E/G ratio of 3.02 and a beta of 2.30. The firm has a 50 day simple moving average of $368.10 and a 200 day simple moving average of $251.23. AppLovin Co. has a 1-year low of $57.40 and a 1-year high of $525.15. 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 released its quarterly earnings data 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%. On average, analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the transaction, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Herald Y. Chen sold 400 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the sale, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. This represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 224,872 shares of company stock worth $82,158,554 over the last ninety days. Company insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on APP. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Jefferies Financial Group boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Macquarie lifted their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Benchmark increased their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, UBS Group upped their price objective on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Four 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.