Sovran Advisors LLC Takes Position in AppLovin Co. (NASDAQ:APP)

Sovran Advisors LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 763 shares of the company’s stock, valued at approximately $245,000.

A number of other institutional investors have also recently bought and sold shares of APP. Sanctuary Advisors LLC bought a new position in AppLovin during the second quarter valued at approximately $241,000. CWM LLC raised its holdings in shares of AppLovin by 40.0% during the 3rd quarter. CWM LLC now owns 4,659 shares of the company’s stock valued at $608,000 after purchasing an additional 1,331 shares in the last quarter. Creative Planning lifted its stake in shares of AppLovin by 251.2% in the 3rd quarter. Creative Planning now owns 144,883 shares of the company’s stock valued at $18,914,000 after purchasing an additional 103,628 shares during the last quarter. Swedbank AB boosted its holdings in AppLovin by 24.7% in the third quarter. Swedbank AB now owns 96,455 shares of the company’s stock worth $12,592,000 after purchasing an additional 19,100 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in AppLovin by 5.7% during the third quarter. Vontobel Holding Ltd. now owns 13,178 shares of the company’s stock worth $1,720,000 after buying an additional 708 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on APP. Piper Sandler upped their price target on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday. Loop Capital lifted their price target on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Wedbush reaffirmed an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Stifel Nicolaus lifted their target price on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and upped their price target for the company from $80.00 to $280.00 in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $422.18.

Insider Activity

In other news, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the sale, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Herald Y. Chen sold 400 shares of AppLovin stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $366.16, for a total transaction of $146,464.00. Following the transaction, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 828,991 shares of company stock worth $267,640,144. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Up 24.0 %

Shares of APP stock opened at $471.67 on Friday. The stock has a market cap of $158.29 billion, a P/E ratio of 142.93, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. 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 fifty day moving average price of $349.15 and a 200 day moving average price of $226.34. AppLovin Co. has a one year low of $45.59 and a one year high of $525.15.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. Analysts predict that AppLovin Co. will post 4.09 earnings per share for the current year.

AppLovin Company 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.