Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New $411,000 Investment in AppLovin Co. (NASDAQ:APP)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,269 shares of the company's stock, valued at approximately $411,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M3 Advisory Group LLC acquired a new position in AppLovin in the 4th quarter valued at about $215,000. SJS Investment Consulting Inc. raised its stake in AppLovin by 1,652.0% during the fourth quarter. SJS Investment Consulting Inc. now owns 438 shares of the company's stock worth $142,000 after buying an additional 413 shares during the last quarter. Linden Thomas Advisory Services LLC grew its holdings in AppLovin by 7.2% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 19,394 shares of the company's stock worth $6,280,000 after purchasing an additional 1,311 shares during the period. Cyndeo Wealth Partners LLC acquired a new position in shares of AppLovin during the fourth quarter worth approximately $614,000. Finally, Fifth Third Bancorp grew its holdings in AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company's stock worth $32,000 after buying an additional 62 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction 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 approximately $291,115,402.32. This represents a 5.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Dawson Alyssa Harvey sold 500 shares of the business's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $406.27, for a total transaction of $203,135.00. Following the sale, the director now directly owns 6,684 shares in the company, valued at approximately $2,715,508.68. This represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 in the last three months. 14.69% of the stock is owned by corporate insiders.

AppLovin Stock Down 1.6 %

Shares of APP traded down $5.86 during midday trading on Thursday, hitting $360.48. 2,144,747 shares of the company's stock traded hands, compared to its average volume of 4,038,066. The firm's fifty day moving average is $339.92 and its 200-day moving average is $204.14. The stock has a market capitalization of $120.97 billion, a price-to-earnings ratio of 109.31, a price-to-earnings-growth ratio of 2.96 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 Co. has a 1 year low of $40.71 and a 1 year high of $417.64.

AppLovin (NASDAQ:APP - Get Free Report) last announced 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 analysts' expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm's quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 EPS. As a group, sell-side analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on APP shares. Jefferies Financial Group increased their price target on AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Benchmark initiated coverage on shares of AppLovin in a research note on Friday, January 10th. They set a "buy" rating and a $375.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $200.00 to $325.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Piper Sandler started coverage on AppLovin in a research report on Wednesday, November 20th. They issued an "overweight" rating and a $400.00 price target for the company. Finally, The Goldman Sachs Group raised their target price on AppLovin from $220.00 to $335.00 and gave the stock a "neutral" rating in a research note on Monday. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and a consensus price target 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.