Sheaff Brock Investment Advisors LLC Takes $614,000 Position in AppLovin Co. (NASDAQ:APP)

Sheaff Brock Investment Advisors LLC bought a new stake in AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,897 shares of the company’s stock, valued at approximately $614,000.

A number of other large investors also recently made changes to their positions in the business. National Bank of Canada FI increased its holdings in shares of AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after purchasing an additional 39 shares during the period. Hemington Wealth Management increased its holdings in shares of 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 purchasing an additional 40 shares during the period. Versant Capital Management Inc increased its holdings in AppLovin by 19.7% in the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after buying an additional 53 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after buying an additional 60 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Up 8.2 %

Shares of APP stock opened at $510.13 on Monday. The stock has a market cap of $171.19 billion, a P/E ratio of 154.59, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. AppLovin Co. has a one year low of $52.75 and a one year high of $525.15. The stock has a fifty day moving average price of $351.33 and a 200 day moving average price of $231.50. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

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

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the transaction, the director now owns 2,987 shares of the company’s stock, valued at $952,673.78. This represents a 85.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 828,991 shares of company stock valued at $267,640,144 over the last ninety days. 14.69% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on APP shares. UBS Group increased their price objective on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus increased 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. Loop Capital increased their price objective on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Wedbush reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Finally, Benchmark upped their target price on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $422.18.

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.