Ritholtz Wealth Management Buys 4,452 Shares of AppLovin Co. (NASDAQ:APP)

Ritholtz Wealth Management boosted its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 28.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,872 shares of the company's stock after buying an additional 4,452 shares during the quarter. Ritholtz Wealth Management's holdings in AppLovin were worth $6,435,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in APP. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the third quarter valued at $25,000. DT Investment Partners LLC purchased a new stake in AppLovin in the 3rd quarter worth about $27,000. Meeder Asset Management Inc. bought a new stake in AppLovin in the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new stake in AppLovin during the third quarter valued at about $29,000. Finally, Quest Partners LLC bought a new position in AppLovin during the second quarter worth about $33,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Activity at AppLovin

In other news, CEO Arash Adam Foroughi sold 1,676 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the transaction, the chief executive officer now directly owns 3,058,635 shares of the company's stock, valued at approximately $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the sale, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock worth $284,773,062 in the last ninety days. 14.69% of the stock is owned by company insiders.

AppLovin Price Performance

Shares of APP stock traded up $10.33 during trading hours on Friday, hitting $342.34. 4,173,415 shares of the company's stock were exchanged, compared to its average volume of 4,138,808. The company has a market capitalization of $114.89 billion, a PE ratio of 103.74, a PEG ratio of 2.68 and a beta of 2.29. The company has a current ratio of 2.41, a quick 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 business's 50 day simple moving average is $329.70 and its 200-day simple moving average is $186.54.

AppLovin (NASDAQ:APP - Get Free Report) last issued its 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. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company 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 earned $0.30 EPS. The firm's revenue was up 38.6% compared to the same quarter last year. On average, equities research analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research note on Thursday, November 7th. Benchmark began coverage on AppLovin in a research report on Friday, January 10th. They set a "buy" rating and a $375.00 target price on the stock. BTIG Research lifted their price target on AppLovin from $202.00 to $291.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. The Goldman Sachs Group lowered AppLovin from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $103.00 to $150.00 in a research note on Monday, October 14th. Finally, Daiwa America upgraded shares of AppLovin from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 8th. Four equities 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.