Atria Investments Inc Buys 3,108 Shares of AppLovin Co. (NASDAQ:APP)

Atria Investments Inc increased its holdings in AppLovin Co. (NASDAQ:APP) by 70.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,507 shares of the company’s stock after buying an additional 3,108 shares during the period. Atria Investments Inc’s holdings in AppLovin were worth $2,431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Assetmark Inc. raised its stake in AppLovin by 39.3% in the fourth quarter. Assetmark Inc. now owns 13,422 shares of the company’s stock worth $4,346,000 after buying an additional 3,785 shares in the last quarter. Smithfield Trust Co bought a new position in AppLovin in the fourth quarter worth approximately $32,000. J.Safra Asset Management Corp bought a new position in AppLovin in the fourth quarter worth approximately $236,000. Cookson Peirce & Co. Inc. raised its stake in AppLovin by 54.9% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 8,554 shares of the company’s stock worth $2,770,000 after buying an additional 3,030 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in AppLovin by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 965,178 shares of the company’s stock worth $312,554,000 after buying an additional 14,238 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction that occurred 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 sale, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 406,047 shares of company stock valued at $140,390,817. Company insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Citigroup lifted their price target on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Benchmark lifted their price target on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Loop Capital lifted their price target on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, UBS Group lifted their price target on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $452.29.

AppLovin Stock Up 4.2 %

APP stock opened at $270.48 on Monday. The company has a market cap of $90.77 billion, a price-to-earnings ratio of 59.58, a PEG ratio of 3.02 and a beta of 2.33. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12 month low of $59.30 and a 12 month high of $525.15. The firm has a 50-day moving average of $363.84 and a two-hundred day moving average of $262.97.

AppLovin (NASDAQ:APP) last posted its quarterly 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 33.54% and a return on equity of 188.55%. As a group, analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal 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.