Simplicity Wealth LLC Invests $258,000 in AppLovin Co. (NASDAQ:APP)

Simplicity Wealth LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,733 shares of the company’s stock, valued at approximately $258,000.

Several other large investors have also bought and sold shares of the business. Atlas Capital Advisors LLC bought a new position in shares of AppLovin in the 1st quarter valued at $38,000. FinTrust Capital Advisors LLC bought a new position in AppLovin in the fourth quarter valued at about $32,000. Quarry LP acquired a new stake in shares of AppLovin during the fourth quarter valued at about $44,000. GAMMA Investing LLC bought a new stake in shares of AppLovin during the fourth quarter worth about $47,000. Finally, Steph & Co. acquired a new position in shares of AppLovin in the first quarter valued at approximately $92,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AppLovin news, CFO Matthew Stumpf sold 2,775 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the transaction, the chief financial officer now directly owns 362,264 shares of the company’s stock, valued at $22,931,311.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other AppLovin news, CFO Matthew Stumpf sold 2,775 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total transaction of $175,657.50. Following the transaction, the chief financial officer now directly owns 362,264 shares in the company, valued at approximately $22,931,311.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Victoria Valenzuela sold 50,000 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the completion of the sale, the insider now owns 471,560 shares of the company’s stock, valued at approximately $35,371,715.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,706,379 shares of company stock worth $1,475,381,292. Corporate insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on APP. Citigroup lifted their target price on shares of AppLovin from $80.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, May 9th. Morgan Stanley lifted their target price on AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Stifel Nicolaus upped their price target on AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, TheStreet upgraded AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.72.

AppLovin Stock Down 0.9 %

Shares of AppLovin stock traded down $0.74 during trading on Thursday, reaching $79.26. 3,661,940 shares of the company traded hands, compared to its average volume of 4,249,422. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a market capitalization of $26.08 billion, a PE ratio of 47.18, a P/E/G ratio of 1.42 and a beta of 1.85. The company has a 50 day moving average price of $74.02 and a 200-day moving average price of $55.24. AppLovin Co. has a 1-year low of $21.03 and a 1-year high of $88.50.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $973.70 million. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The business’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) earnings per share. As a group, equities research analysts expect that AppLovin Co. will post 2.96 earnings per share for the current fiscal year.

AppLovin 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.