Redhawk Wealth Advisors Inc. Invests $295,000 in AppLovin Co. (NASDAQ:APP)

Redhawk Wealth Advisors Inc. bought a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 910 shares of the company's stock, valued at approximately $295,000.

A number of other large investors have also made changes to their positions in the stock. Townsquare Capital LLC lifted its stake in AppLovin by 64.9% during the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company's stock worth $1,037,000 after purchasing an additional 3,126 shares during the period. Second Half Financial Partners LLC bought a new position in shares of AppLovin during the 3rd quarter worth approximately $224,000. State Street Corp lifted its position in shares of AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company's stock worth $703,406,000 after buying an additional 428,419 shares during the period. Eagle Asset Management Inc. grew its position in AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company's stock worth $68,297,000 after acquiring an additional 500,407 shares during the last quarter. Finally, Zacks Investment Management grew its holdings in shares of AppLovin by 328.1% during the third quarter. Zacks Investment Management now owns 106,121 shares of the company's stock worth $13,854,000 after purchasing an additional 81,331 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Performance

APP stock traded up $14.47 during trading hours on Friday, reaching $346.48. The stock had a trading volume of 2,779,263 shares, compared to its average volume of 4,007,564. The stock has a 50-day simple moving average of $329.70 and a 200 day simple moving average of $186.54. AppLovin Co. has a fifty-two week low of $40.71 and a fifty-two week high of $417.64. The stock has a market capitalization of $116.27 billion, a PE ratio of 104.74, a price-to-earnings-growth ratio of 2.68 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

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

Insider Buying and Selling

In other news, CTO Vasily Shikin sold 593,588 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief technology officer now owns 3,919,024 shares in the company, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the transaction, the director now owns 6,684 shares in the company, valued at approximately $2,715,508.68. This trade represents a 6.96 % 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. 14.69% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on APP shares. The Goldman Sachs Group cut shares of AppLovin from a "buy" rating to a "neutral" rating and raised their price objective for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Oppenheimer reissued an "outperform" rating and issued a $480.00 target price on shares of AppLovin in a research note on Tuesday, December 10th. Wells Fargo & Company upped their price target on AppLovin from $360.00 to $366.00 and gave the company an "overweight" rating in a research note on Monday. JPMorgan Chase & Co. increased their target price on shares of AppLovin from $200.00 to $325.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Finally, Citigroup lifted their price objective on AppLovin from $335.00 to $460.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $338.06.

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.