Integrated Wealth Concepts LLC Invests $347,000 in AppLovin Co. (NASDAQ:APP)

Integrated Wealth Concepts LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 1,071 shares of the company’s stock, valued at approximately $347,000.

A number of other large investors have also added to or reduced their stakes in APP. FMR LLC boosted its position in shares of AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company’s stock worth $4,485,409,000 after acquiring an additional 5,957,885 shares in the last quarter. SVB Wealth LLC bought a new position in shares of AppLovin in the 4th quarter valued at $1,781,922,000. Baillie Gifford & Co. raised its holdings in shares of AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after buying an additional 4,010,520 shares in the last quarter. Norges Bank bought a new stake in shares of AppLovin during the 4th quarter worth $828,138,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in AppLovin by 457.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock valued at $936,888,000 after buying an additional 2,373,885 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Herald Y. Chen sold 200,000 shares of the business’s 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 completion of the sale, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by company insiders.

AppLovin Trading Up 10.1 %

NASDAQ:APP opened at $307.58 on Friday. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The firm’s fifty day moving average is $276.82 and its 200-day moving average is $305.94. The firm has a market cap of $104.56 billion, a P/E ratio of 67.75, a P/E/G ratio of 3.02 and a beta of 2.39. 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 (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share 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 expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Bank of America boosted their target price on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Citigroup increased their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company decreased their target price on shares of AppLovin from $538.00 to $386.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Monday, April 21st. Finally, Morgan Stanley upgraded AppLovin from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $470.00 to $350.00 in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $415.15.

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.