Birch Hill Investment Advisors LLC Invests $365,000 in AppLovin Co. (NASDAQ:APP)

Birch Hill Investment Advisors LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,127 shares of the company's stock, valued at approximately $365,000.

A number of other institutional investors also recently bought and sold shares of the company. D Orazio & Associates Inc. boosted its position in AppLovin by 9.7% during the fourth quarter. D Orazio & Associates Inc. now owns 1,766 shares of the company's stock worth $572,000 after purchasing an additional 156 shares in the last quarter. Opinicus Capital Inc. acquired a new position in shares of AppLovin in the fourth quarter worth $441,000. Lecap Asset Management Ltd. acquired a new position in shares of AppLovin in the fourth quarter worth $1,300,000. SMART Wealth LLC acquired a new position in shares of AppLovin in the fourth quarter worth $402,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of AppLovin by 9.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,301 shares of the company's stock worth $176,261,000 after acquiring an additional 45,767 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In other news, CFO Herald Y. Chen sold 400 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the sale, the chief financial officer now owns 207,649 shares of the company's stock, valued at $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of the company's stock in a transaction dated 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 completion of the sale, the chief technology officer now directly owns 3,919,024 shares of the company's stock, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 828,991 shares of company stock valued at $267,640,144 over the last quarter. Company insiders own 14.69% of the company's stock.

AppLovin Trading Up 1.4 %

NASDAQ:APP traded up $5.07 on Wednesday, hitting $380.32. 9,123,122 shares of the stock were exchanged, compared to its average volume of 4,238,742. The stock has a market cap of $127.63 billion, a PE ratio of 115.25, a PEG ratio of 3.10 and a beta of 2.30. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a fifty day moving average of $347.17 and a 200-day moving average of $223.52. AppLovin Co. has a fifty-two week low of $45.12 and a fifty-two week high of $417.64.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. As a group, equities analysts expect that AppLovin Co. will post 4.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of analyst reports. Macquarie boosted their price target on AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Benchmark initiated coverage on AppLovin in a report on Friday, January 10th. They issued a "buy" rating and a $375.00 price target for the company. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research note on Thursday, November 7th. Loop Capital upped their target price on AppLovin from $385.00 to $450.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Finally, Stifel Nicolaus upped their target price on AppLovin from $250.00 to $435.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $366.29.

About AppLovin

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.