Axxcess Wealth Management LLC Has $1.84 Million Holdings in AppLovin Co. (NASDAQ:APP)

Axxcess Wealth Management LLC raised its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 30.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,694 shares of the company's stock after acquiring an additional 1,316 shares during the period. Axxcess Wealth Management LLC's holdings in AppLovin were worth $1,844,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. JFS Wealth Advisors LLC increased its position in AppLovin by 38.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company's stock worth $34,000 after acquiring an additional 29 shares during the period. Truvestments Capital LLC increased its holdings in shares of AppLovin by 0.7% during the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company's stock worth $1,696,000 after purchasing an additional 38 shares during the period. National Bank of Canada FI raised its position 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 buying an additional 39 shares during the last quarter. Hemington Wealth Management raised its position in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after buying an additional 40 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company's stock worth $104,000 after purchasing an additional 53 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

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AppLovin Trading Up 8.2 %

Shares of AppLovin stock traded up $25.69 during trading on Monday, reaching $339.72. 9,111,745 shares of the company were exchanged, compared to its average volume of 5,260,595. The business has a 50-day moving average price of $353.83 and a 200-day moving average price of $276.60. The firm has a market capitalization of $115.49 billion, a price-to-earnings ratio of 74.83, a P/E/G ratio of 3.02 and a beta of 2.33. 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.

AppLovin (NASDAQ:APP - Get Free Report) last issued 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%. Sell-side analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the transaction, the chief executive officer now directly owns 2,869,492 shares of the company's stock, valued at approximately $1,179,045,567.88. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction dated 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 sale, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 306,900 shares of company stock valued at $106,401,841. Corporate insiders own 14.69% of the company's stock.

Analyst Upgrades and Downgrades

APP has been the topic of several research analyst reports. Oppenheimer reaffirmed an "outperform" rating and set a $560.00 price objective (up from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Arete Research set a $200.00 price target on AppLovin in a research report on Wednesday, March 5th. Benchmark lifted their price objective on AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Jefferies Financial Group increased their target price on AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, UBS Group lifted their price target on AppLovin from $440.00 to $630.00 and gave the company a "buy" rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $438.28.

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.