Occidental Asset Management LLC Purchases Shares of 909 AppLovin Co. (NASDAQ:APP)

Occidental Asset Management LLC bought a new position in AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 909 shares of the company's stock, valued at approximately $294,000.

Other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company's stock worth $1,030,462,000 after acquiring an additional 6,801,138 shares during the period. Fred Alger Management LLC bought a new stake in shares of AppLovin in the 2nd quarter worth approximately $290,655,000. 1832 Asset Management L.P. lifted its stake in AppLovin by 977.2% in the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company's stock valued at $124,522,000 after purchasing an additional 1,357,400 shares during the last quarter. WCM Investment Management LLC grew its holdings in AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company's stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the period. Finally, Janus Henderson Group PLC increased its position in AppLovin by 31.3% in the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company's stock worth $306,897,000 after buying an additional 560,560 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Price Performance

Shares of APP stock traded up $10.33 during trading on Friday, hitting $342.34. The company had a trading volume of 4,173,415 shares, compared to its average volume of 3,899,418. AppLovin Co. has a 52 week low of $40.71 and a 52 week high of $417.64. The stock has a market capitalization 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. The stock's 50-day moving average is $330.75 and its two-hundred day moving average is $188.33.

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

Analyst Ratings Changes

APP has been the topic of a number of recent research reports. Bank of America upped their price target on AppLovin from $252.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Wells Fargo & Company upped their price objective on shares of AppLovin from $360.00 to $366.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Jefferies Financial Group lifted their target price on shares of 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 restated a "hold" rating on shares of AppLovin in a research note on Thursday, November 7th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $270.00 price objective (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Four research 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 company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $338.06.

Insiders Place Their Bets

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the transaction, the chief executive officer now owns 3,058,635 shares of the company's stock, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the business's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the sale, the chief marketing officer now directly owns 1,017,388 shares of the company's stock, valued at $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock valued at $284,773,062 over the last 90 days. Insiders own 14.69% of the company's stock.

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.