Greenwich Wealth Management LLC Invests $265,000 in AppLovin Co. (NASDAQ:APP)

Greenwich Wealth Management LLC purchased a new position in AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 818 shares of the company’s stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of AppLovin by 622.8% in the 3rd 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. SVB Wealth LLC acquired a new position in AppLovin in the fourth quarter worth $1,781,922,000. Baillie Gifford & Co. increased its stake in AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares during the last quarter. Raymond James Financial Inc. bought a new stake in AppLovin during the fourth quarter valued at $535,070,000. Finally, Jennison Associates LLC bought a new position in shares of AppLovin in the 4th quarter worth about $414,462,000. 41.85% of the stock is owned by institutional investors.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 44,400 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was 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 directly owns 2,869,492 shares of the company’s stock, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 322,871 shares of company stock valued at $111,401,882 in the last quarter. Insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on APP shares. Wells Fargo & Company set a $538.00 price objective on shares of AppLovin and gave the company an “overweight” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. increased their price target on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Arete Research set a $200.00 price objective on AppLovin in a research report on Wednesday, March 5th. Bank of America raised their target price on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Citigroup upped their price target on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $438.28.

AppLovin Stock Up 7.7 %

Shares of APP stock opened at $292.89 on Monday. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. 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 is $357.00 and its 200-day moving average is $269.20. The stock has a market cap of $99.57 billion, a PE ratio of 64.51, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

AppLovin 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.