917 Shares in AppLovin Co. (NASDAQ:APP) Acquired by Relyea Zuckerberg Hanson LLC

Relyea Zuckerberg Hanson LLC purchased a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 917 shares of the company’s stock, valued at approximately $297,000.

Several other large investors have also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC purchased a new stake in shares of AppLovin during the fourth quarter worth approximately $451,000. Occidental Asset Management LLC purchased a new stake in shares of AppLovin during the fourth quarter worth approximately $294,000. Salvus Wealth Management LLC purchased a new stake in shares of AppLovin during the fourth quarter worth approximately $213,000. Retireful LLC purchased a new stake in shares of AppLovin during the fourth quarter worth approximately $2,444,000. Finally, Ritholtz Wealth Management increased its position in shares of AppLovin by 28.9% during the fourth quarter. Ritholtz Wealth Management now owns 19,872 shares of the company’s stock worth $6,435,000 after purchasing an additional 4,452 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on APP shares. BTIG Research upped their target price on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Macquarie upped their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and upped their price target for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price target on AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $338.06.

AppLovin Trading Up 3.1 %

NASDAQ:APP opened at $342.34 on Friday. The stock’s 50 day moving average price is $330.75 and its 200 day moving average price is $188.33. The company has a market capitalization of $114.89 billion, a PE ratio of 103.74, a P/E/G ratio of 2.68 and a beta of 2.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 52-week low of $40.71 and a 52-week high of $417.64.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, research analysts anticipate that AppLovin Co. will post 4.06 EPS for the current year.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the transaction, the insider now owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. This trade represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the transaction, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 in the last three months. 14.69% of the stock is currently owned by company insiders.

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.