Laidlaw Wealth Management LLC Makes New $201,000 Investment in AppLovin Co. (NASDAQ:APP)

Laidlaw Wealth Management LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 620 shares of the company’s stock, valued at approximately $201,000.

A number of other large investors also recently bought and sold shares of the company. TimesSquare Capital Management LLC bought a new position in AppLovin during the 4th quarter worth approximately $88,495,000. Global Retirement Partners LLC lifted its holdings in shares of AppLovin by 21.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,738 shares of the company’s stock worth $563,000 after purchasing an additional 307 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of AppLovin by 1.8% in the 4th quarter. New York State Common Retirement Fund now owns 150,535 shares of the company’s stock worth $48,748,000 after purchasing an additional 2,700 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of AppLovin in the 4th quarter worth approximately $51,000. Finally, Atria Wealth Solutions Inc. lifted its holdings in shares of AppLovin by 111.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 4,917 shares of the company’s stock worth $1,592,000 after purchasing an additional 2,594 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Loop Capital raised their price target on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Citigroup raised their price target on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer reissued an “outperform” rating and issued a $560.00 price target (up previously from $480.00) on shares of AppLovin in a report on Thursday, February 13th. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Macquarie raised 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. 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $430.41.

AppLovin Stock Down 0.4 %

Shares of APP opened at $494.17 on Thursday. The firm has a market capitalization of $165.84 billion, a price-to-earnings ratio of 108.85, a PEG ratio of 3.84 and a beta of 2.30. 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 business’s fifty day moving average price is $361.30 and its two-hundred day moving average price is $239.37. AppLovin Co. has a 52 week low of $54.50 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share 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 6.64 earnings per share for the current year.

Insider Activity

In related news, Director Herald Y. Chen sold 99,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the sale, the director now 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 217,403 shares of company stock valued at $72,325,024 in the last 90 days. 14.69% of the stock is owned by company insiders.

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.