Revolve Wealth Partners LLC Takes $294,000 Position in AppLovin Co. (NASDAQ:APP)

Revolve Wealth Partners LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 909 shares of the company’s stock, valued at approximately $294,000.

Several other large investors have also recently bought and sold shares of the company. FMR LLC boosted its holdings in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. WCM Investment Management LLC lifted its holdings in AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares during the period. Janus Henderson Group PLC lifted its stake in shares of AppLovin by 31.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after purchasing an additional 560,560 shares during the period. Eagle Asset Management Inc. lifted its stake in shares of AppLovin by 2,200.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after purchasing an additional 500,407 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of AppLovin by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after purchasing an additional 449,241 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herald Y. Chen sold 99,000 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at approximately $204,688,365.50. This trade represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock worth $284,773,062 in the last ninety days. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Down 5.5 %

AppLovin stock opened at $343.02 on Tuesday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market cap of $115.11 billion, a PE ratio of 103.95, a price-to-earnings-growth ratio of 2.96 and a beta of 2.29. AppLovin Co. has a fifty-two week low of $40.71 and a fifty-two week high of $417.64. The firm’s 50-day simple moving average is $338.31 and its 200 day simple moving average is $201.05.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS 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 company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted $0.30 earnings per share. AppLovin’s revenue was up 38.6% on a year-over-year basis. Research analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. UBS Group boosted their price target on AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group increased their target price on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday. BTIG Research lifted their price target on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Benchmark initiated coverage on shares of AppLovin in a research report on Friday, January 10th. They set a “buy” rating and a $375.00 price objective on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $480.00 target price on shares of AppLovin in a research report on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $366.29.

AppLovin Company 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.