Baron Wealth Management LLC Takes $448,000 Position in AppLovin Co. (NASDAQ:APP)

Baron Wealth Management LLC acquired a new stake in AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,382 shares of the company's stock, valued at approximately $448,000.

Other large investors also recently made changes to their positions in the company. Swedbank AB raised its position in AppLovin by 13.7% in the 4th quarter. Swedbank AB now owns 109,708 shares of the company's stock worth $35,527,000 after purchasing an additional 13,253 shares during the last quarter. BOCHK Asset Management Ltd bought a new stake in shares of AppLovin during the fourth quarter worth $25,055,000. SteelPeak Wealth LLC bought a new position in AppLovin in the fourth quarter valued at about $741,000. Stonegate Investment Group LLC bought a new stake in AppLovin during the 4th quarter worth about $267,000. Finally, Revolve Wealth Partners LLC acquired a new position in AppLovin during the 4th quarter valued at about $294,000. Institutional investors own 41.85% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Daiwa America raised AppLovin from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 8th. Wells Fargo & Company boosted their target price on shares of AppLovin from $360.00 to $366.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Macquarie lifted their target price on AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Piper Sandler initiated coverage on AppLovin in a report on Wednesday, November 20th. They set an "overweight" rating and a $400.00 price target for the company. Finally, Daiwa Capital Markets upgraded shares of AppLovin from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $80.00 to $280.00 in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $366.29.

AppLovin Price Performance

NASDAQ:APP traded down $0.83 during trading hours on Thursday, reaching $365.51. 3,731,027 shares of the company were exchanged, compared to its average volume of 4,126,800. The business has a 50 day moving average of $339.92 and a 200 day moving average of $204.14. AppLovin Co. has a 1-year low of $40.71 and a 1-year high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market capitalization of $122.66 billion, a P/E ratio of 110.76, a P/E/G ratio of 2.96 and a beta of 2.29.

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

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the transaction, the chief technology officer now owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the company's stock in a transaction that occurred on 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 transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is currently owned by corporate 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.