Tcfg Wealth Management LLC Takes Position in AppLovin Co. (NASDAQ:APP)

Tcfg Wealth Management LLC purchased a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,139 shares of the company's stock, valued at approximately $369,000.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on APP shares. Wells Fargo & Company boosted their price target on AppLovin from $360.00 to $366.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. JPMorgan Chase & Co. lifted their price objective on AppLovin from $325.00 to $475.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Benchmark upped their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Daiwa Capital Markets raised shares of AppLovin from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Finally, Wedbush reissued an "outperform" rating and issued a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, AppLovin presently has an average rating of "Moderate Buy" and an average target price of $430.41.

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AppLovin Trading Down 0.4 %

APP stock traded down $1.83 during trading on Wednesday, reaching $494.17. 5,043,683 shares of the stock traded hands, compared to its average volume of 5,072,827. The business's 50 day moving average price is $361.30 and its 200-day moving average price is $239.37. The firm has a market capitalization of $165.84 billion, a PE ratio of 108.85, a P/E/G ratio of 3.84 and a beta of 2.30. 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 Co. has a 52-week low of $54.50 and a 52-week high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) 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, sell-side analysts forecast that AppLovin Co. will post 6.64 earnings per share for the current year.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction dated Thursday, November 21st. The stock was 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 approximately $1,251,618,694.88. This trade represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of the firm's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 828,991 shares of company stock valued at $267,640,144 over the last 90 days. Corporate insiders own 14.69% of the company's stock.

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.