Mpwm Advisory Solutions LLC Invests $36,000 in AppLovin Co. (NASDAQ:APP)

Mpwm Advisory Solutions LLC bought a new position in AppLovin Co. (NASDAQ:APP) in the fourth quarter, Holdings Channel.com reports. The firm bought 112 shares of the company’s stock, valued at approximately $36,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GHP Investment Advisors Inc. bought a new position in shares of AppLovin in the fourth quarter worth about $25,000. Fuller & Thaler Asset Management Inc. bought a new position in AppLovin in the 4th quarter valued at approximately $25,000. Riverview Trust Co raised its holdings in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after buying an additional 82 shares during the last quarter. Tucker Asset Management LLC bought a new position in AppLovin in the 4th quarter valued at approximately $28,000. Finally, Hemington Wealth Management raised its holdings in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of AppLovin from $335.00 to $435.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Monday, April 21st. Piper Sandler raised their price objective on shares of AppLovin from $425.00 to $455.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Wells Fargo & Company raised their price objective on shares of AppLovin from $386.00 to $405.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Finally, Arete Research set a $200.00 target price on shares of AppLovin in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $433.85.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,119,470 shares of company stock valued at $409,752,180. 14.69% of the stock is owned by company insiders.

AppLovin Stock Performance

Shares of APP stock opened at $363.05 on Wednesday. The company has a market cap of $122.85 billion, a price-to-earnings ratio of 79.97, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a 50 day moving average of $288.92 and a 200-day moving average of $321.26.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the firm posted $0.67 EPS. The company’s quarterly revenue was up 40.3% on a year-over-year basis. On average, equities analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

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.