Stonebridge Financial Group LLC Purchases New Stake in AppLovin Co. (NASDAQ:APP)

Stonebridge Financial Group LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 842 shares of the company's stock, valued at approximately $273,000.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of AppLovin during the 3rd quarter valued at $25,000. GHP Investment Advisors Inc. bought a new stake in AppLovin during the fourth quarter worth about $25,000. DT Investment Partners LLC acquired a new stake in AppLovin during the third quarter worth about $27,000. Meeder Asset Management Inc. bought a new position in AppLovin in the 3rd quarter valued at about $27,000. Finally, Raleigh Capital Management Inc. acquired a new position in shares of AppLovin in the 3rd quarter valued at approximately $29,000. Institutional investors own 41.85% of the company's stock.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the sale, the insider now directly owns 405,676 shares of the company's stock, valued at approximately $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the transaction, the chief executive officer now directly owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 828,991 shares of company stock valued at $267,640,144 in the last ninety days. 14.69% of the stock is owned by company insiders.

AppLovin Trading Up 8.2 %

NASDAQ:APP traded up $38.46 on Friday, reaching $510.13. 11,325,513 shares of the stock traded hands, compared to its average volume of 3,704,961. The firm has a market capitalization of $171.19 billion, a price-to-earnings ratio of 154.59, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. AppLovin Co. has a 1-year low of $52.75 and a 1-year high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company's 50 day moving average is $351.33 and its 200-day moving average is $230.42.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results 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 26.85% and a return on equity of 122.24%. Equities research analysts anticipate that AppLovin Co. will post 4.09 EPS for the current fiscal year.

Analyst Ratings Changes

APP has been the topic of several analyst reports. Bank of America increased their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research report on Thursday. Loop Capital lifted their price target on AppLovin from $385.00 to $450.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Macquarie boosted their price target on AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Daiwa Capital Markets raised AppLovin from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Finally, Piper Sandler boosted their target price on AppLovin from $400.00 to $575.00 and gave the stock an "overweight" rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $422.18.

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.