2,694 Shares in AppLovin Co. (NASDAQ:APP) Acquired by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC bought a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 2,694 shares of the company's stock, valued at approximately $872,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantum Financial Advisors LLC purchased a new position in AppLovin in the 4th quarter valued at about $307,000. FNY Investment Advisers LLC acquired a new position in shares of AppLovin in the 4th quarter worth approximately $158,000. Signet Financial Management LLC bought a new stake in AppLovin during the fourth quarter valued at $317,000. PFW Advisors LLC bought a new stake in shares of AppLovin during the 4th quarter valued at about $216,000. Finally, Claro Advisors LLC bought a new stake in shares of AppLovin in the 4th quarter worth approximately $415,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on APP shares. Benchmark initiated coverage on shares of AppLovin in a research note on Friday, January 10th. They set a "buy" rating and a $375.00 target price for the company. Daiwa Capital Markets upgraded AppLovin from a "neutral" rating to an "outperform" rating and raised their target price for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Piper Sandler started coverage on AppLovin in a research report on Wednesday, November 20th. They set an "overweight" rating and a $400.00 price target for the company. BTIG Research lifted their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of AppLovin from $200.00 to $325.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $338.06.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value 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. This represents a 13.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the business's stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This represents a 4.11 % 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 over the last quarter. Corporate insiders own 14.69% of the company's stock.

AppLovin Price Performance

Shares of NASDAQ APP traded up $2.02 during mid-day trading on Thursday, reaching $337.05. The company had a trading volume of 1,688,778 shares, compared to its average volume of 4,051,355. The company has a 50-day moving average price of $327.99 and a two-hundred day moving average price of $185.52. The stock has a market cap of $113.11 billion, a PE ratio of 102.06, a P/E/G 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 1-year low of $39.43 and a 1-year high of $417.64.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping 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 business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm posted $0.30 earnings per share. The firm's quarterly revenue was up 38.6% compared to the same quarter last year. On average, equities analysts anticipate that AppLovin Co. will post 4.06 earnings per share 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.