1,688 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Moors & Cabot Inc.

Moors & Cabot Inc. purchased a new stake in AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,688 shares of the company's stock, valued at approximately $547,000.

A number of other institutional investors and hedge funds have also made changes to their positions in APP. GHP Investment Advisors Inc. purchased a new position in AppLovin during the 4th quarter worth $25,000. Meeder Asset Management Inc. purchased a new position in AppLovin during the 3rd quarter worth $27,000. Riverview Trust Co grew its stake in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after buying an additional 82 shares during the last quarter. Hemington Wealth Management grew its stake in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after buying an additional 40 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company's stock worth $32,000 after buying an additional 62 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on APP. Piper Sandler lifted their price target on AppLovin from $400.00 to $575.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. UBS Group lifted their price target on AppLovin from $440.00 to $630.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Macquarie lifted their price target on AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research report on Thursday, February 13th. Finally, Stifel Nicolaus boosted their price objective on AppLovin from $250.00 to $435.00 and gave the company a "buy" rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given 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 $438.28.

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Insider Activity

In other news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction on 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 transaction, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % 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 ninety days. Corporate insiders own 14.69% of the company's stock.

AppLovin Price Performance

Shares of APP stock traded up $20.89 during trading hours on Friday, reaching $292.89. The company had a trading volume of 10,053,786 shares, compared to its average volume of 5,185,397. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a fifty day moving average of $357.00 and a 200-day moving average of $266.70. The company has a market capitalization of $99.57 billion, a price-to-earnings ratio of 64.51, a PEG ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15.

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

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.