Meeder Advisory Services Inc. Has $743,000 Stock Position in AppLovin Co. (NASDAQ:APP)

by · The Markets Daily

Meeder Advisory Services Inc. lifted its holdings in AppLovin Co. (NASDAQ:APP – Free Report) by 28.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,295 shares of the company’s stock after acquiring an additional 513 shares during the period. Meeder Advisory Services Inc.’s holdings in AppLovin were worth $743,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of APP. GHP Investment Advisors Inc. acquired a new position in AppLovin in the 4th quarter valued at $25,000. Riverview Trust Co raised its stake in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after purchasing an additional 82 shares in the last quarter. Tucker Asset Management LLC bought a new stake in AppLovin during the fourth quarter worth about $28,000. Hemington Wealth Management grew its stake in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after buying an additional 62 shares during the period. 41.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

APP has been the subject of a number of recent analyst reports. UBS Group upped 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. Piper Sandler upped their target price on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Oppenheimer reiterated an “outperform” rating and issued a $560.00 price target on shares of AppLovin in a research note on Thursday, March 27th. The Goldman Sachs Group upped their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, Benchmark lifted their target price on AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $435.47.

Read Our Latest Report on AppLovin

Insiders Place Their Bets

In other news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the sale, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by insiders.

AppLovin Stock Performance

NASDAQ APP opened at $261.98 on Friday. The company has a market capitalization of $89.06 billion, a price-to-earnings ratio of 57.70, a PEG ratio of 3.02 and a beta of 2.33. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The stock has a fifty day simple moving average of $345.76 and a 200 day simple moving average of $286.55.

AppLovin (NASDAQ:APP – Get Free Report) last issued 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 return on equity of 188.55% and a net margin of 33.54%. Sell-side analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

About AppLovin

(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.

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