109,950 Shares in AppLovin Co. (NASDAQ:APP) Bought by Trivest Advisors Ltd

Trivest Advisors Ltd bought a new stake in AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 109,950 shares of the company’s stock, valued at approximately $35,605,000. AppLovin comprises 1.6% of Trivest Advisors Ltd’s holdings, making the stock its 23rd biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. GHP Investment Advisors Inc. bought a new stake in AppLovin in the 4th quarter valued at about $25,000. Meeder Asset Management Inc. bought a new stake in shares of AppLovin during the third quarter valued at approximately $27,000. Riverview Trust Co boosted its position in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares during the period. Hemington Wealth Management grew its holdings in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in AppLovin by 172.2% in 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. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

APP opened at $278.84 on Wednesday. The firm has a market capitalization of $94.79 billion, a P/E ratio of 61.42, a PEG ratio of 3.02 and a beta of 2.33. The stock has a fifty day moving average of $355.01 and a 200-day moving average of $272.03. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping 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 fiscal year.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the transaction, the chief executive officer now owns 2,869,492 shares in the company, valued at $1,179,045,567.88. The trade was a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 322,871 shares of company stock valued at $111,401,882. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on APP shares. JPMorgan Chase & Co. boosted their price target on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the company an “overweight” rating in a research note on Thursday, February 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $560.00 price target (up from $480.00) on shares of AppLovin in a research note on Thursday, February 13th. Benchmark raised their price objective on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Citigroup upped their target price on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $438.28.

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.