Pinkerton Retirement Specialists LLC Invests $346,000 in AppLovin Co. (NASDAQ:APP)

Pinkerton Retirement Specialists LLC purchased a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,070 shares of the company’s stock, valued at approximately $346,000.

A number of other hedge funds also recently modified their holdings of APP. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin in the 4th quarter valued at approximately $25,000. GHP Investment Advisors Inc. bought a new stake in AppLovin in the 4th quarter valued at approximately $25,000. Riverview Trust Co lifted its stake in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. Tucker Asset Management LLC bought a new stake in AppLovin in the 4th quarter valued at approximately $28,000. Finally, Hemington Wealth Management lifted its stake in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on APP shares. Morgan Stanley boosted their target price on AppLovin from $350.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Wells Fargo & Company boosted their price target on AppLovin from $386.00 to $405.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. The Goldman Sachs Group boosted their price target on AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Piper Sandler boosted their price target on AppLovin from $425.00 to $455.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $433.85.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $358.35 on Thursday. 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 $60.67 and a 12 month high of $525.15. The stock has a 50 day moving average of $290.23 and a 200-day moving average of $321.52. The company has a market capitalization of $121.26 billion, a P/E ratio of 78.93, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the company posted $0.67 EPS. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, equities research analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction on Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the transaction, the chief executive officer now directly owns 2,869,492 shares of the company’s stock, valued at $1,179,045,567.88. The trade was a 1.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This represents a 16.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,132,654 shares of company stock worth $414,627,485. 14.69% of the stock is owned by company insiders.

AppLovin Company 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.