Independent Solutions Wealth Management LLC Makes New Investment in AppLovin Co. (NASDAQ:APP)

Independent Solutions Wealth Management LLC acquired a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,156 shares of the company's stock, valued at approximately $3,936,000.

Several other large investors have also recently made changes to their positions in APP. GHP Investment Advisors Inc. purchased a new stake in AppLovin during the 4th quarter valued at $25,000. Meeder Asset Management Inc. purchased a new position in AppLovin during the third quarter worth $27,000. Riverview Trust Co increased its position in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares during the last quarter. Hemington Wealth Management raised its stake in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after acquiring an additional 40 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company's stock worth $32,000 after acquiring an additional 62 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Up 1.9 %

APP stock traded up $6.57 during trading on Tuesday, hitting $346.29. 7,751,599 shares of the company's stock traded hands, compared to its average volume of 5,260,273. The business has a fifty day simple moving average of $354.31 and a two-hundred day simple moving average of $278.37. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $117.72 billion, a P/E ratio of 76.28, a PEG ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15.

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AppLovin (NASDAQ:APP - Get Free Report) last released 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 188.55% and a net margin of 33.54%. Sell-side analysts anticipate that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Ratings Changes

APP has been the topic of a number of recent analyst reports. Loop Capital increased their price objective on shares of AppLovin from $450.00 to $650.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Benchmark increased their price target on AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. UBS Group boosted their price objective on AppLovin from $440.00 to $630.00 and gave the company a "buy" rating in a 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 research note on Wednesday, January 8th. Finally, Stifel Nicolaus lifted their target price on AppLovin from $250.00 to $435.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $438.28.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is 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.