J.P. Morgan Private Wealth Advisors LLC Makes New $1.04 Million Investment in AppLovin Co. (NYSE:APP)

J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of AppLovin Co. (NYSE:APPFree Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,927 shares of the company’s stock, valued at approximately $1,036,000.

Other large investors have also recently added to or reduced their stakes in the company. BluePath Capital Management LLC bought a new stake in AppLovin during the third quarter worth about $33,000. Castleview Partners LLC bought a new stake in shares of AppLovin during the third quarter valued at approximately $38,000. Cullen Frost Bankers Inc. bought a new stake in shares of AppLovin during the third quarter valued at approximately $44,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of AppLovin during the third quarter valued at approximately $45,000. Finally, JPMorgan Chase & Co. grew its stake in shares of AppLovin by 99.0% during the first quarter. JPMorgan Chase & Co. now owns 981 shares of the company’s stock valued at $54,000 after purchasing an additional 488 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 383,539 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $37.10, for a total value of $14,229,296.90. Following the sale, the chief technology officer now directly owns 6,076 shares in the company, valued at $225,419.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other AppLovin news, CTO Vasily Shikin sold 383,539 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $37.10, for a total value of $14,229,296.90. Following the sale, the chief technology officer now directly owns 6,076 shares in the company, valued at $225,419.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 325,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $39.56, for a total transaction of $12,857,000.00. Following the sale, the chief executive officer now owns 7,088,622 shares in the company, valued at $280,425,886.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,332,520 shares of company stock worth $50,806,354. Company insiders own 12.43% of the company’s stock.

AppLovin Trading Up 1.5 %

APP opened at $47.06 on Tuesday. The firm’s fifty day moving average is $41.42 and its two-hundred day moving average is $39.75. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market cap of $15.80 billion, a PE ratio of 156.87, a price-to-earnings-growth ratio of 1.49 and a beta of 1.69. AppLovin Co. has a twelve month low of $11.69 and a twelve month high of $48.77.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wedbush increased their price target on shares of AppLovin from $48.00 to $58.50 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Stifel Nicolaus increased their price target on shares of AppLovin from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Morgan Stanley increased their price target on shares of AppLovin from $40.00 to $43.50 and gave the company an “equal weight” rating in a research note on Thursday, November 9th. HSBC assumed coverage on shares of AppLovin in a research note on Monday, December 18th. They issued a “buy” rating and a $53.20 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on shares of AppLovin from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.95.

View Our Latest Stock Analysis on AppLovin

AppLovin Profile

(Free Report)

AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction; and Wurl, a connected TV platform, which primarily distributes streaming video for content companies.

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Institutional Ownership by Quarter for AppLovin (NYSE:APP)

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