Merit Financial Group LLC Takes Position in AppLovin Co. (NASDAQ:APP)

Merit Financial Group LLC purchased a new position in shares of AppLovin Co. (NASDAQ:APPFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 944 shares of the company’s stock, valued at approximately $306,000.

A number of other institutional investors and hedge funds have also modified their holdings of APP. Relyea Zuckerberg Hanson LLC acquired a new stake in AppLovin in the 4th quarter valued at about $297,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of AppLovin in the fourth quarter valued at about $451,000. Occidental Asset Management LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at approximately $294,000. Salvus Wealth Management LLC purchased a new position in shares of AppLovin during the 4th quarter worth approximately $213,000. Finally, Retireful LLC acquired a new position in shares of AppLovin during the 4th quarter worth approximately $2,444,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related news, Director Dawson Alyssa Harvey sold 500 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $406.27, for a total transaction of $203,135.00. Following the sale, the director now directly owns 6,684 shares in the company, valued at approximately $2,715,508.68. This trade represents a 6.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Herald Y. Chen sold 400 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the transaction, the chief financial officer now directly owns 207,649 shares in the company, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

APP has been the topic of a number of analyst reports. Benchmark assumed coverage on AppLovin in a report on Friday, January 10th. They set a “buy” rating and a $375.00 target price on the stock. Loop Capital lifted their price objective on AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and upped their target price for the company from $103.00 to $150.00 in a report on Monday, October 14th. Bank of America raised their price target on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Stifel Nicolaus boosted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $355.41.

Check Out Our Latest Analysis on APP

AppLovin Stock Performance

AppLovin stock opened at $363.10 on Friday. The company has a market cap of $121.85 billion, a price-to-earnings ratio of 110.03, a price-to-earnings-growth ratio of 2.96 and a beta of 2.29. AppLovin Co. has a 12 month low of $40.71 and a 12 month high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock’s 50-day moving average is $337.41 and its 200-day moving average is $198.41.

AppLovin (NASDAQ:APPGet Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm posted $0.30 earnings per share. AppLovin’s revenue for the quarter was up 38.6% compared to the same quarter last year. Equities analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current year.

AppLovin Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Co. (NASDAQ:APPFree Report).

Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

Receive News & Ratings for AppLovin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AppLovin and related companies with MarketBeat.com's FREE daily email newsletter.