Sigma Planning Corp Acquires New Position in AppLovin Co. (NASDAQ:APP)

Sigma Planning Corp bought a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,507 shares of the company’s stock, valued at approximately $812,000.

A number of other large investors have also recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in shares of AppLovin during the 3rd quarter worth $25,000. GHP Investment Advisors Inc. bought a new position in shares of AppLovin in the fourth quarter worth about $25,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin in the third quarter worth about $27,000. Hemington Wealth Management boosted its stake 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 in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $377.06 on Wednesday. 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 company has a market capitalization of $126.54 billion, a PE ratio of 83.05, a P/E/G ratio of 3.02 and a beta of 2.30. The firm has a fifty day simple moving average of $367.70 and a 200 day simple moving average of $250.18. AppLovin Co. has a twelve month low of $57.40 and a twelve 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, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, sell-side analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the sale, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. The trade was a 4.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mary Margaret Hasti Georgiadis sold 30,500 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $339.69, for a total value of $10,360,545.00. Following the completion of the transaction, the director now owns 154,500 shares in the company, valued at approximately $52,482,105. The trade was a 16.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,372 shares of company stock valued at $92,519,099. 14.69% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on APP shares. Benchmark raised their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $280.00 in a report on Friday, November 8th. Oppenheimer restated an “outperform” rating and set a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Loop Capital increased their target price on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group boosted their price target on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $442.18.

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.