Farther Finance Advisors LLC Acquires 1,332 Shares of AppLovin Co. (NASDAQ:APP)

Farther Finance Advisors LLC raised its holdings in AppLovin Co. (NASDAQ:APP) by 130.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,352 shares of the company’s stock after acquiring an additional 1,332 shares during the period. Farther Finance Advisors LLC’s holdings in AppLovin were worth $762,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its stake in shares of AppLovin by 45.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,143 shares of the company’s stock valued at $1,018,000 after acquiring an additional 987 shares during the last quarter. Wealth High Governance Capital Ltda acquired a new position in AppLovin in the 4th quarter worth about $10,039,000. Moors & Cabot Inc. bought a new position in AppLovin in the fourth quarter valued at about $547,000. Avantax Planning Partners Inc. acquired a new stake in shares of AppLovin during the fourth quarter valued at about $469,000. Finally, S&CO Inc. acquired a new position in shares of AppLovin in the fourth quarter valued at approximately $218,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. UBS Group raised their price target on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Loop Capital raised their target price on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Citigroup upped their price target on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Macquarie lifted 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. Finally, Oppenheimer reissued an “outperform” rating and set a $560.00 target price (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $438.28.

AppLovin Stock Performance

NASDAQ APP opened at $292.89 on Friday. The company has a fifty day moving average price of $357.00 and a 200-day moving average price of $267.94. The firm has a market cap of $99.57 billion, a price-to-earnings ratio of 64.51, a PEG ratio of 3.02 and a beta of 2.33. 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 Co. has a 1 year low of $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, equities research analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Arash Adam Foroughi sold 44,400 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the sale, the chief executive officer now owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 322,871 shares of company stock worth $111,401,882. 14.69% of the stock is owned by company insiders.

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.