Capital Planning Advisors LLC Acquires New Holdings in AppLovin Co. (NASDAQ:APP)

Capital Planning Advisors LLC acquired a new stake in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, HoldingsChannel reports. The firm acquired 789 shares of the company’s stock, valued at approximately $256,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. National Bank of Canada FI raised its position 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 acquiring an additional 39 shares in the last quarter. Versant Capital Management Inc raised its position in 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 acquiring an additional 53 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in AppLovin by 2.2% in the third 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 in the last quarter. Avior Wealth Management LLC raised its holdings in AppLovin by 54.7% during the 4th quarter. Avior Wealth Management LLC now owns 215 shares of the company’s stock worth $70,000 after buying an additional 76 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in AppLovin by 139.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock worth $50,000 after buying an additional 89 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on APP shares. The Goldman Sachs Group downgraded AppLovin from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $103.00 to $150.00 in a report on Monday, October 14th. Stifel Nicolaus boosted their price objective on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Citigroup boosted their price objective on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Loop Capital boosted their price objective on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Wells Fargo & Company lifted their target price on AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $355.41.

Insider Transactions at AppLovin

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the transaction, the chief technology officer now owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 888,867 shares of company stock worth $284,773,062. Insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $360.92 on Thursday. The business’s fifty day moving average price is $334.41 and its two-hundred day moving average price is $194.53. AppLovin Co. has a fifty-two week low of $40.71 and a fifty-two week high of $417.64. The stock has a market capitalization of $121.12 billion, a price-to-earnings ratio of 109.10, a price-to-earnings-growth ratio of 2.77 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating 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 firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business posted $0.30 earnings per share. The business’s revenue was up 38.6% compared to the same quarter last year. As a group, analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

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.