CFO4Life Group LLC Purchases New Shares in AppLovin Co. (NASDAQ:APP)

CFO4Life Group LLC purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,058 shares of the company’s stock, valued at approximately $696,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WCM Investment Management LLC bought a new position in AppLovin in the 1st quarter valued at $497,488,000. Sapient Capital LLC bought a new position in AppLovin in the 4th quarter valued at $165,057,000. Vanguard Group Inc. boosted its position in AppLovin by 8.5% in the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock valued at $723,245,000 after buying an additional 1,411,453 shares during the last quarter. Norges Bank bought a new position in AppLovin in the 4th quarter valued at $43,973,000. Finally, First Trust Advisors LP boosted its position in AppLovin by 42.6% in the 4th quarter. First Trust Advisors LP now owns 2,298,740 shares of the company’s stock valued at $91,605,000 after buying an additional 686,258 shares during the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Price Performance

NASDAQ:APP traded up $2.90 during trading hours on Friday, reaching $84.91. 1,135,055 shares of the company were exchanged, compared to its average volume of 4,226,721. The company has a market capitalization of $27.94 billion, a P/E ratio of 49.83, a P/E/G ratio of 1.43 and a beta of 1.86. AppLovin Co. has a 1-year low of $27.32 and a 1-year high of $91.91. 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 business has a 50 day moving average of $81.70 and a 200 day moving average of $65.70.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $973.70 million. During the same period in the prior year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was up 47.9% on a year-over-year basis. Research analysts forecast that AppLovin Co. will post 2.96 EPS for the current year.

Insider Activity

In other news, CMO Katie Kihorany Jansen sold 147,984 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.29, for a total value of $12,177,603.36. Following the completion of the transaction, the chief marketing officer now directly owns 1,264,284 shares in the company, valued at approximately $104,037,930.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CMO Katie Kihorany Jansen sold 147,984 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.29, for a total transaction of $12,177,603.36. Following the completion of the transaction, the chief marketing officer now directly owns 1,264,284 shares of the company’s stock, valued at approximately $104,037,930.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 118,839 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $90.75, for a total value of $10,784,639.25. Following the transaction, the director now directly owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,857,726 shares of company stock worth $1,489,251,374. Insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on APP shares. Daiwa Capital Markets started coverage on AppLovin in a research report on Monday, April 15th. They issued a “neutral” rating and a $80.00 price target on the stock. Jefferies Financial Group raised their price target on AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Oppenheimer restated an “outperform” rating and issued a $97.00 price target on shares of AppLovin in a research report on Thursday, June 13th. Morgan Stanley raised their price objective on AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $71.72.

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.