Moors & Cabot Inc. Invests $547,000 in AppLovin Co. (NASDAQ:APP)

Moors & Cabot Inc. acquired a new stake in AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,688 shares of the company's stock, valued at approximately $547,000.

Several other hedge funds also recently bought and sold shares of APP. Assetmark Inc. boosted its stake in AppLovin by 131.8% during the third quarter. Assetmark Inc. now owns 9,637 shares of the company's stock worth $1,258,000 after buying an additional 5,480 shares during the period. Atria Investments Inc purchased a new position in AppLovin during the third quarter worth about $574,000. Crossmark Global Holdings Inc. purchased a new position in AppLovin during the third quarter worth about $289,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in AppLovin by 37.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 498,534 shares of the company's stock worth $65,084,000 after buying an additional 134,645 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in AppLovin by 45.5% during the third quarter. Victory Capital Management Inc. now owns 374,892 shares of the company's stock worth $48,942,000 after buying an additional 117,186 shares during the period. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 15,971 shares of the firm's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arash Adam Foroughi sold 44,400 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the sale, the chief executive officer now owns 2,869,492 shares of the company's stock, valued at approximately $1,179,045,567.88. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 322,871 shares of company stock worth $111,401,882 over the last 90 days. 14.69% of the stock is currently owned by insiders.

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AppLovin Stock Performance

Shares of AppLovin stock traded up $20.89 during trading on Friday, reaching $292.89. The company's stock had a trading volume of 10,053,786 shares, compared to its average volume of 5,187,542. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. 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 firm has a market cap of $99.57 billion, a PE ratio of 64.51, a P/E/G ratio of 3.02 and a beta of 2.33. The company has a 50-day moving average price of $357.00 and a two-hundred day moving average price of $267.94.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping 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%. On average, analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on APP. Piper Sandler raised their price objective on shares of AppLovin from $400.00 to $575.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Citigroup raised their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. raised their price objective on shares of AppLovin from $325.00 to $475.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Loop Capital raised their price objective on shares of AppLovin from $450.00 to $650.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, Macquarie raised their price objective on shares of AppLovin from $270.00 to $450.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AppLovin currently has an average rating of "Moderate Buy" and a consensus price target of $438.28.

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.