Prakash Investment Advisors LLC Makes New $225,000 Investment in AppLovin Co. (NASDAQ:APP)

Prakash Investment Advisors LLC purchased a new position 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 institutional investor purchased 695 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of APP. Capital Performance Advisors LLP purchased a new stake in AppLovin in the third quarter worth about $25,000. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin during the fourth quarter worth about $25,000. DT Investment Partners LLC purchased a new stake in shares of AppLovin during the third quarter worth about $27,000. Meeder Asset Management Inc. purchased a new stake in shares of AppLovin during the third quarter worth about $27,000. Finally, Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin during the third quarter worth about $29,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Herald Y. Chen sold 99,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 621,209 shares of the company’s stock, valued at $204,688,365.50. This represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 196,302 shares of company stock valued at $65,305,354 in the last ninety days. Insiders own 14.69% of the company’s stock.

AppLovin Price Performance

NASDAQ:APP opened at $450.01 on Friday. The firm has a market capitalization of $151.02 billion, a price-to-earnings ratio of 99.12, a PEG ratio of 3.61 and a beta of 2.30. AppLovin Co. has a 1 year low of $54.50 and a 1 year high of $525.15. The business has a 50 day simple moving average of $363.77 and a 200-day simple moving average of $240.83. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Equities analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on APP. Macquarie increased their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their target price on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. BTIG Research increased their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased 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. Finally, The Goldman Sachs Group raised their price target on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. 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, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $442.18.

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.