Opal Wealth Advisors LLC Makes New $237,000 Investment in AppLovin Co. (NASDAQ:APP)

Opal Wealth Advisors LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 731 shares of the company’s stock, valued at approximately $237,000.

Several other institutional investors have also recently bought and sold shares of APP. FMR LLC grew its holdings in shares of AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of AppLovin during the fourth quarter worth about $414,462,000. WCM Investment Management LLC grew its holdings in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of AppLovin by 31.3% during the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after purchasing an additional 560,560 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of AppLovin by 2,200.4% during the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on APP shares. Macquarie boosted their price target on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and upped their target price for the company from $80.00 to $280.00 in a report on Friday, November 8th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $480.00 target price on shares of AppLovin in a report on Tuesday, December 10th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $366.29.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the company’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 transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief technology officer now directly owns 3,919,024 shares in the company, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 828,991 shares of company stock valued at $267,640,144 over the last ninety days. 14.69% of the stock is owned by company insiders.

AppLovin Price Performance

AppLovin stock opened at $384.40 on Tuesday. 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 stock’s 50 day moving average price is $347.00 and its two-hundred day moving average price is $221.43. The stock has a market capitalization of $129.00 billion, a price-to-earnings ratio of 116.49, a PEG ratio of 3.10 and a beta of 2.30.

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.