Occidental Asset Management LLC Invests $294,000 in AppLovin Co. (NASDAQ:APP)

Occidental Asset Management LLC bought a new stake in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 909 shares of the company’s stock, valued at approximately $294,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of APP. National Bank of Canada FI lifted its stake in AppLovin by 4.0% in the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after purchasing an additional 39 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of AppLovin by 19.7% in the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after buying an additional 53 shares during the period. Great Valley Advisor Group Inc. lifted its stake in shares of AppLovin by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after acquiring an additional 60 shares during the last quarter. HM Payson & Co. boosted its holdings in AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Finally, Aptus Capital Advisors LLC grew its position in AppLovin by 0.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 3.1 %

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

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

Insider Activity at AppLovin

In related news, Director Craig Scott Billings sold 18,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the transaction, the director now owns 2,987 shares in the company, valued at $952,673.78. This trade represents a 85.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction dated 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 sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock valued at $284,773,062 in the last ninety days. Corporate insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on APP. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Oppenheimer reissued an “outperform” rating and issued a $480.00 price objective on shares of AppLovin in a research report on Tuesday, December 10th. Loop Capital lifted their price target on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Bank of America boosted their price target on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a report on Monday, November 25th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $338.06.

About AppLovin

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.