Soltis Investment Advisors LLC Invests $308,000 in AppLovin Co. (NASDAQ:APP)

Soltis Investment Advisors LLC bought a new stake in AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 951 shares of the company’s stock, valued at approximately $308,000.

Other hedge funds also recently modified their holdings of the company. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin in the 4th quarter worth about $25,000. Fifth Third Bancorp grew its position in shares of AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after acquiring an additional 62 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of AppLovin by 139.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock worth $50,000 after purchasing an additional 89 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the 3rd quarter worth approximately $25,000. Finally, Meeder Asset Management Inc. purchased a new position in AppLovin in the third quarter valued at approximately $27,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other AppLovin news, Director Craig Scott Billings sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the sale, the director now owns 2,987 shares in the company, valued at approximately $952,673.78. The trade was a 85.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction that occurred on 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 directly owns 3,058,635 shares of the company’s stock, valued at approximately $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 sold a total of 828,991 shares of company stock valued at $267,640,144 over the last 90 days. Insiders own 14.69% of the company’s stock.

AppLovin Stock Down 2.4 %

Shares of NASDAQ:APP opened at $375.25 on Wednesday. The firm has a market capitalization of $125.93 billion, a PE ratio of 113.71, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 52-week low of $45.12 and a 52-week high of $417.64. The firm has a fifty day moving average of $347.17 and a 200 day moving average of $223.52.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. BTIG Research raised their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Bank of America boosted their price objective on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Wedbush reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, Benchmark initiated coverage on shares of AppLovin in a report on Friday, January 10th. They issued a “buy” rating and a $375.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $366.29.

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.