Bridges Investment Management Inc. Buys New Stake in AppLovin Co. (NASDAQ:APP)

Bridges Investment Management Inc. bought a new stake in shares of AppLovin Co. (NASDAQ:APP) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 1,057 shares of the company’s stock, valued at approximately $342,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in AppLovin during the third quarter valued at approximately $25,000. GHP Investment Advisors Inc. acquired a new position in AppLovin during the 4th quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new position in AppLovin during the 3rd quarter valued at approximately $27,000. Hemington Wealth Management increased its stake in AppLovin by 78.4% during 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 increased its stake in 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 in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 3.6 %

APP stock opened at $337.34 on Tuesday. The firm has a market cap of $113.21 billion, a PE ratio of 74.30, a P/E/G ratio of 3.02 and a beta of 2.30. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm’s fifty day moving average is $367.64 and its 200 day moving average is $257.15. AppLovin Co. has a one year low of $59.30 and a one year high of $525.15.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS 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%. On average, research analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on APP. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Citigroup upped their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. 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 research note on Friday, November 8th. UBS Group upped their price target on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, 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 note on Thursday, February 20th. Four 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $452.29.

Insider Activity at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction on 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 transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the transaction, the director now directly owns 621,209 shares in the company, valued at approximately $204,688,365.50. The trade was a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,947 shares of company stock worth $75,810,416. 14.69% of the stock is owned by company insiders.

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.