Sequoia Financial Advisors LLC Buys 987 Shares of AppLovin Co. (NASDAQ:APP)

Sequoia Financial Advisors LLC grew its stake in AppLovin Co. (NASDAQ:APP) by 45.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,143 shares of the company’s stock after purchasing an additional 987 shares during the period. Sequoia Financial Advisors LLC’s holdings in AppLovin were worth $1,018,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of APP. Atria Investments Inc bought a new stake in shares of AppLovin in the 3rd quarter valued at approximately $574,000. Crossmark Global Holdings Inc. purchased a new stake in shares of AppLovin in the third quarter worth approximately $289,000. Metis Global Partners LLC purchased a new stake in shares of AppLovin in the third quarter worth approximately $341,000. OneDigital Investment Advisors LLC purchased a new stake in shares of AppLovin in the third quarter worth approximately $336,000. Finally, CIBC Asset Management Inc raised its holdings in shares of AppLovin by 3.6% in the third quarter. CIBC Asset Management Inc now owns 7,777 shares of the company’s stock worth $1,015,000 after buying an additional 267 shares during the period. 41.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Benchmark increased their price target on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group increased their price target on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Citigroup raised their price objective on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Stifel Nicolaus raised their price objective on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the stock an “overweight” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the sale, the chief executive officer now owns 2,869,492 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 322,871 shares of company stock valued at $111,401,882. 14.69% of the stock is owned by company insiders.

AppLovin Stock Up 7.7 %

AppLovin stock opened at $292.89 on Monday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market capitalization of $99.57 billion, a price-to-earnings ratio of 64.51, a PEG ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The business has a fifty day moving average price of $357.00 and a 200-day moving average price of $269.20.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results 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 return on equity of 188.55% and a net margin of 33.54%. Equities research analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

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.