Optimize Financial Inc Purchases New Position in AppLovin Co. (NASDAQ:APP)

Optimize Financial Inc bought a new position in AppLovin Co. (NASDAQ:APP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,551 shares of the company's stock, valued at approximately $3,741,000. AppLovin comprises about 2.8% of Optimize Financial Inc's investment portfolio, making the stock its largest position.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GHP Investment Advisors Inc. bought a new position in AppLovin in the fourth quarter worth approximately $25,000. Riverview Trust Co lifted its holdings in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after purchasing an additional 82 shares in the last quarter. Tucker Asset Management LLC bought a new stake in AppLovin in the 4th quarter valued at $28,000. Hemington Wealth Management lifted its stake in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company's stock valued at $32,000 after purchasing an additional 62 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on APP shares. Piper Sandler dropped their price target on AppLovin from $575.00 to $425.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. UBS Group reduced their price target on shares of AppLovin from $630.00 to $450.00 and set a "buy" rating on the stock in a research report on Friday. Oppenheimer reissued an "outperform" rating and issued a $560.00 price objective on shares of AppLovin in a research note on Thursday, March 27th. Loop Capital restated a "buy" rating and issued a $650.00 target price on shares of AppLovin in a report on Friday, March 28th. Finally, Morgan Stanley raised shares of AppLovin from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $470.00 to $350.00 in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $424.84.

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Insider Buying and Selling

In other news, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock worth $106,401,841 in the last three months. 14.69% of the stock is owned by insiders.

AppLovin Trading Up 4.0 %

APP traded up $9.40 during trading on Tuesday, hitting $245.47. 6,758,123 shares of the stock were exchanged, compared to its average volume of 8,423,968. 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 firm has a 50 day simple moving average of $324.56 and a 200 day simple moving average of $295.32. The firm has a market cap of $83.45 billion, a price-to-earnings ratio of 54.07, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, equities analysts expect that AppLovin Co. will post 6.87 EPS 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.