Bogart Wealth LLC Acquires New Position in AppLovin Co. (NASDAQ:APP)

Bogart Wealth LLC acquired a new stake in AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 115 shares of the company’s stock, valued at approximately $37,000.

A number of other hedge funds have also recently added to or reduced their stakes in APP. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the 3rd quarter valued at approximately $25,000. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin during the 4th quarter valued at approximately $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin during the 3rd quarter valued at approximately $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin during the 3rd quarter valued at approximately $27,000. Finally, Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin during 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 research analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday. Oppenheimer reissued an “outperform” rating and set a $560.00 price objective (up from $480.00) on shares of AppLovin in a research note on Thursday. Stifel Nicolaus raised their price objective on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Loop Capital raised their price objective on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, The Goldman Sachs Group raised their price objective on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. 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 MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average price target of $422.18.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the transaction, the director now owns 621,209 shares in the company, valued at approximately $204,688,365.50. This represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 828,991 shares of company stock valued at $267,640,144. Company insiders own 14.69% of the company’s stock.

AppLovin Price Performance

APP stock opened at $510.13 on Friday. The stock has a 50-day moving average price of $351.33 and a two-hundred day moving average price of $230.42. AppLovin Co. has a 12-month low of $52.75 and a 12-month 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 has a market cap of $171.19 billion, a PE ratio of 154.59, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. As a group, research analysts predict that AppLovin Co. will post 4.09 EPS for the current year.

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.