Peregrine Asset Advisers Inc. Buys Shares of 13,850 AppLovin Co. (NASDAQ:APP)

Peregrine Asset Advisers Inc. purchased a new position in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,850 shares of the company’s stock, valued at approximately $4,485,000. AppLovin comprises 1.7% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 19th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in AppLovin during the 3rd quarter worth $25,000. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin in the 4th quarter valued at about $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the third quarter valued at about $27,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin during the third quarter worth about $27,000. Finally, Hemington Wealth Management lifted its stake in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, Director Eduardo Vivas sold 30,330 shares of AppLovin stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $330.67, for a total transaction of $10,029,221.10. Following the transaction, the director now directly owns 90,576 shares of the company’s stock, valued at $29,950,765.92. The trade was a 25.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 196,302 shares of company stock valued at $65,305,354 over the last three months. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $415.31 on Friday. AppLovin Co. has a twelve month low of $56.45 and a twelve month high of $525.15. The stock’s 50 day moving average is $365.59 and its 200-day moving average is $243.25. 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 market capitalization of $139.37 billion, a price-to-earnings ratio of 91.48, a PEG ratio of 3.60 and a beta of 2.30.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Sell-side analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on APP shares. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Piper Sandler boosted their target price on shares of AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Loop Capital upped their price target on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus lifted their price objective on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $442.18.

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.