Revolve Wealth Partners LLC Makes New Investment in AppLovin Co. (NASDAQ:APP)

Revolve Wealth Partners LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 909 shares of the company’s stock, valued at approximately $294,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Fifth Third Bancorp boosted its stake in AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of AppLovin by 139.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock worth $50,000 after buying an additional 89 shares during the period. Capital Performance Advisors LLP bought a new position in shares of AppLovin during the third quarter worth about $25,000. Meeder Asset Management Inc. bought a new stake in AppLovin in the 3rd quarter valued at approximately $27,000. Finally, DT Investment Partners LLC acquired a new position in AppLovin during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Benchmark assumed coverage on shares of AppLovin in a report on Friday, January 10th. They issued a “buy” rating and a $375.00 price objective on the stock. Jefferies Financial Group increased their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Stifel Nicolaus lifted their target price on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Piper Sandler began coverage on AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $366.29.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the transaction, the chief technology officer now directly owns 3,919,024 shares in the company, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the transaction, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 over the last quarter. 14.69% of the stock is owned by company insiders.

AppLovin Stock Down 5.5 %

Shares of APP opened at $343.02 on Tuesday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12 month low of $40.71 and a 12 month high of $417.64. The firm’s 50 day moving average is $338.31 and its 200-day moving average is $201.05. The stock has a market capitalization of $115.11 billion, a PE ratio of 103.95, a P/E/G ratio of 2.96 and a beta of 2.29.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s revenue was up 38.6% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS. Equities research analysts forecast that AppLovin Co. will post 4.06 EPS for the current 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.