Moss Adams Wealth Advisors LLC Takes Position in AppLovin Co. (NASDAQ:APP)

Moss Adams Wealth Advisors LLC bought a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 854 shares of the company's stock, valued at approximately $277,000.

Several other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in AppLovin during the third quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new stake in AppLovin in the 3rd quarter worth $27,000. DT Investment Partners LLC acquired a new position in AppLovin during the third quarter worth $27,000. Raleigh Capital Management Inc. purchased a new position in AppLovin during the third quarter valued at $29,000. Finally, HM Payson & Co. grew its position in shares of AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company's stock valued at $39,000 after purchasing an additional 100 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APP has been the topic of a number of research reports. Stifel Nicolaus raised their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Macquarie raised their target price on AppLovin from $270.00 to $450.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Benchmark assumed coverage on AppLovin in a research report on Friday, January 10th. They set a "buy" rating and a $375.00 price target for the company. Jefferies Financial Group increased their price objective on AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group cut shares of AppLovin from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $338.06.

AppLovin Trading Up 3.1 %

NASDAQ:APP traded up $10.33 on Friday, reaching $342.34. The company's stock had a trading volume of 4,173,415 shares, compared to its average volume of 3,899,418. The firm has a market cap of $114.89 billion, a price-to-earnings ratio of 103.74, a price-to-earnings-growth ratio of 2.68 and a beta of 2.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12-month low of $40.71 and a 12-month high of $417.64. The stock has a 50 day moving average price of $330.75 and a 200 day moving average price of $189.06.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin's revenue was up 38.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. On average, equities analysts anticipate that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now directly owns 405,676 shares of the company's stock, valued at $143,670,155.40. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the sale, the chief technology officer now directly owns 3,919,024 shares in the company, valued at $1,251,618,694.88. This represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 888,867 shares of company stock valued at $284,773,062. Company insiders own 14.69% of the company's stock.

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.