Jones Financial Companies Lllp Purchases 1,591 Shares of AppLovin Co. (NASDAQ:APP)

Jones Financial Companies Lllp grew its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 509.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,903 shares of the company's stock after buying an additional 1,591 shares during the period. Jones Financial Companies Lllp's holdings in AppLovin were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Riverview Trust Co increased its stake in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after buying an additional 82 shares during the period. Norden Group LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at about $393,000. Bridges Investment Management Inc. acquired a new stake in shares of AppLovin in the fourth quarter valued at about $342,000. Metis Global Partners LLC increased its stake in shares of AppLovin by 10.3% in the fourth quarter. Metis Global Partners LLC now owns 2,878 shares of the company's stock valued at $932,000 after buying an additional 269 shares during the period. Finally, West Michigan Advisors LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at about $638,000. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Up 4.2 %

APP stock opened at $270.48 on Monday. AppLovin Co. has a twelve month low of $59.30 and a twelve month high of $525.15. 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 stock's 50 day moving average is $363.84 and its 200-day moving average is $262.97. The firm has a market capitalization of $90.77 billion, a PE ratio of 59.58, a P/E/G ratio of 3.02 and a beta of 2.33.

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AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates 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 expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the sale, the director now directly owns 621,209 shares in the company, valued at approximately $204,688,365.50. This trade represents a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 406,047 shares of company stock worth $140,390,817. 14.69% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on APP. Oppenheimer reaffirmed an "outperform" rating and set a $560.00 target price (up previously from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Jefferies Financial Group raised 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. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research note on Thursday, February 13th. 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, January 27th. Finally, Benchmark raised their target price on AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $452.29.

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.

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