Atria Wealth Solutions Inc. Acquires 2,594 Shares of AppLovin Co. (NASDAQ:APP)

Atria Wealth Solutions Inc. boosted its holdings in shares of AppLovin Co. (NASDAQ:APP) by 111.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,917 shares of the company’s stock after acquiring an additional 2,594 shares during the period. Atria Wealth Solutions Inc.’s holdings in AppLovin were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APP. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the 3rd quarter valued at about $25,000. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin in the 4th quarter valued at about $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin in the 3rd quarter valued at about $27,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin in the 3rd quarter valued at about $27,000. Finally, Hemington Wealth Management boosted its holdings in shares of 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 buying an additional 40 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insider Transactions at AppLovin

In other news, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $366.16, for a total transaction of $146,464.00. Following the sale, the chief financial officer now owns 207,649 shares of the company’s stock, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the sale, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 196,302 shares of company stock valued at $65,305,354 in the last 90 days. 14.69% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on APP shares. Macquarie raised their price target on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and raised their price target for the company from $80.00 to $280.00 in a report on Friday, November 8th. The Goldman Sachs Group increased their price objective on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. UBS Group increased their price objective on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $560.00 price objective (up from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. 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.com, the company has an average rating of “Moderate Buy” and an average target price of $442.18.

AppLovin Stock Performance

APP opened at $415.31 on Friday. AppLovin Co. has a 12-month low of $56.45 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 firm has a market capitalization of $139.37 billion, a PE ratio of 91.48, a P/E/G ratio of 3.28 and a beta of 2.30. The firm has a 50 day moving average of $365.59 and a two-hundred day moving average of $244.47.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 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%. On average, analysts anticipate that AppLovin Co. will post 6.87 EPS for the current year.

About AppLovin

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.