Relyea Zuckerberg Hanson LLC Makes New $297,000 Investment in AppLovin Co. (NASDAQ:APP)

Relyea Zuckerberg Hanson LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 917 shares of the company's stock, valued at approximately $297,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC bought a new position in shares of AppLovin in the 3rd quarter valued at $27,000. Meeder Asset Management Inc. acquired a new position in shares of AppLovin during the 3rd quarter worth $27,000. Raleigh Capital Management Inc. bought a new stake in shares of AppLovin during the 3rd quarter worth $29,000. Finally, Quest Partners LLC acquired a new stake in AppLovin in the second quarter valued at about $33,000. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Up 3.1 %

NASDAQ:APP traded up $10.33 on Friday, reaching $342.34. 4,173,415 shares of the stock traded hands, compared to its average volume of 3,899,418. The company's fifty day simple moving average is $330.75 and its 200 day simple moving average is $188.33. AppLovin Co. has a 12 month low of $40.71 and a 12 month high of $417.64. The company has a market capitalization of $114.89 billion, a price-to-earnings ratio of 103.74, a PEG ratio of 2.68 and a beta of 2.29. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company's revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share. Equities analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on APP shares. Stifel Nicolaus increased their target price on AppLovin from $250.00 to $435.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. BTIG Research lifted their price target on shares of AppLovin from $202.00 to $291.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research report on Thursday, November 7th. Bank of America increased their price target on AppLovin from $252.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Finally, Loop Capital upped their target price on AppLovin from $385.00 to $450.00 and gave the company a "buy" rating in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $338.06.

Insider Transactions at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares of the company's stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the business's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares of the company's stock, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 888,867 shares of company stock valued at $284,773,062. Corporate insiders own 14.69% of the company's stock.

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.