GABELLI & Co INVESTMENT ADVISERS INC. Acquires Shares of 1,200 AppLovin Co. (NASDAQ:APP)

GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,200 shares of the company's stock, valued at approximately $389,000.

Other large investors have also added to or reduced their stakes in the company. Oxinas Partners Wealth Management LLC purchased a new stake in shares of AppLovin in the 4th quarter valued at about $1,081,000. Virtu Financial LLC bought a new position in AppLovin during the 3rd quarter worth approximately $3,211,000. Franchise Capital Ltd bought a new position in shares of AppLovin in the fourth quarter worth approximately $2,811,000. Barclays PLC increased its position in shares of AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after acquiring an additional 153,248 shares during the period. Finally, Tcfg Wealth Management LLC bought a new position in AppLovin during the 4th quarter valued at approximately $369,000. Institutional investors own 41.85% of the company's stock.

Insider Transactions at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock worth $106,401,841 in the last ninety days. Insiders own 14.69% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on APP. Bank of America lifted their price target on shares of AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a report on Thursday, February 13th. UBS Group reduced their price target on shares of AppLovin from $630.00 to $450.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Morgan Stanley raised shares of AppLovin from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $470.00 to $350.00 in a research note on Thursday, April 10th. JPMorgan Chase & Co. lifted their price objective on AppLovin from $325.00 to $475.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, Arete Research set a $200.00 target price on AppLovin in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and a consensus target price of $424.84.

AppLovin Stock Up 3.7 %

Shares of APP stock traded up $8.41 during mid-day trading on Friday, hitting $238.22. The company's stock had a trading volume of 5,278,241 shares, compared to its average volume of 5,810,542. The stock has a market cap of $80.98 billion, a price-to-earnings ratio of 52.47, a PEG ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The business has a 50-day moving average price of $316.01 and a 200 day moving average price of $295.27.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Research analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal year.

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.