MIG Capital LLC Purchases New Shares in AppLovin Co. (NASDAQ:APP)

MIG Capital LLC acquired a new position in AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,053 shares of the company’s stock, valued at approximately $341,000.

Other large investors also recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its holdings in shares of AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after purchasing an additional 29 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in shares of AppLovin by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock valued at $590,000 after buying an additional 31 shares during the period. Quadrant Capital Group LLC raised its position in shares of AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock worth $170,000 after acquiring an additional 33 shares during the last quarter. Truvestments Capital LLC raised its position in shares of AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after acquiring an additional 38 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after acquiring an additional 39 shares during the period. Institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler boosted their price objective on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Monday, March 17th. Wells Fargo & Company set a $538.00 price objective on shares of AppLovin and gave the company an “overweight” rating in a research note on Thursday, February 27th. Jefferies Financial Group upped their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Loop Capital restated a “buy” rating and issued a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $435.47.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction on Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the sale, the chief executive officer now directly owns 2,869,492 shares in the company, valued at approximately $1,179,045,567.88. The trade was a 1.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by insiders.

AppLovin Stock Down 16.3 %

AppLovin stock opened at $219.37 on Friday. The company has a 50 day moving average of $342.89 and a 200-day moving average of $288.42. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The stock has a market capitalization of $74.58 billion, a PE ratio of 48.32, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, equities research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

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.