Trivest Advisors Ltd Invests $35.61 Million in AppLovin Co. (NASDAQ:APP)

Trivest Advisors Ltd bought a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 109,950 shares of the company's stock, valued at approximately $35,605,000. AppLovin makes up about 1.6% of Trivest Advisors Ltd's holdings, making the stock its 23rd biggest position.

Other hedge funds also recently modified their holdings of the company. GHP Investment Advisors Inc. bought a new position in AppLovin in the fourth quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in AppLovin in the third quarter valued at about $27,000. Riverview Trust Co grew its position in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares during the last quarter. Hemington Wealth Management grew its position in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company's stock valued at $32,000 after acquiring an additional 62 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APP. UBS Group lifted their target price on AppLovin from $440.00 to $630.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Loop Capital lifted their price objective on AppLovin from $450.00 to $650.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Oppenheimer reaffirmed an "outperform" rating and issued a $560.00 price objective (up from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. JPMorgan Chase & Co. lifted their price objective on AppLovin from $325.00 to $475.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $438.28.

Remove Ads

AppLovin Stock Up 2.4 %

Shares of NASDAQ APP traded up $7.29 during midday trading on Friday, hitting $314.03. 9,496,672 shares of the stock traded hands, compared to its average volume of 5,245,125. The company has a market cap of $106.76 billion, a PE ratio of 69.17, a P/E/G ratio of 3.02 and a beta of 2.33. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The business has a 50 day moving average price of $353.83 and a two-hundred day moving average price of $276.60. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

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

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock worth $106,401,841 in the last quarter. 14.69% of the stock is currently 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.