Florida Financial Advisors LLC Invests in AppLovin Co.

Florida Financial Advisors LLC has made a new investment in AppLovin Co. (NASDAQ:APP) during the fourth quarter, as indicated by their recent filing with the Securities and Exchange Commission (SEC). The firm acquired 760 shares of AppLovin's stock, amounting to an investment of approximately $246,000.

Other Institutional Investments

In addition to Florida Financial Advisors, several other institutional investors have recently adjusted their stakes in AppLovin. For instance, GHP Investment Advisors Inc. bought a new position valued at around $25,000 in the fourth quarter. Meanwhile, Riverview Trust Co. increased its stake significantly, growing by 1,640.0% to own 87 shares worth $28,000 after purchasing an additional 82 shares last quarter. Hemington Wealth Management raised its holdings by 78.4%, now owning 91 shares valued at $29,000 after buying 40 more shares. Additionally, Fifth Third Bancorp lifted its holdings in AppLovin by 172.2%, now owning 98 shares worth $32,000 after acquiring an extra 62 shares. Another firm, Smithfield Trust Co., also purchased a new position valued at $32,000. Overall, hedge funds and institutional investors own approximately 41.85% of AppLovin's stock.

Insider Trading at AppLovin

In related news, AppLovin's CEO, Arash Adam Foroughi, sold 45,000 shares of the company's stock on February 21, receiving an average price of $422.21 per share, resulting in total proceeds of about $18.99 million. After this transaction, he retained ownership of 2,914,492 shares, valued at approximately $1.23 billion. This transaction represented a 1.52% decrease in his ownership. The details of this sale were disclosed in a filing with the SEC. Moreover, Director Herald Y. Chen sold 200,000 shares on February 28 at an average price of $324.65, amounting to approximately $64.93 million. Following this sale, he owns 621,209 shares valued at around $201.67 million, reflecting a 24.35% decrease in his holdings. In total, insiders sold 306,900 shares worth around $106.40 million over the last three months, and currently, insiders own about 14.69% of the company's stock.

Analyst Opinions on AppLovin

Several analysts have recently updated their ratings on AppLovin shares. JPMorgan Chase & Co. raised their price target from $325.00 to $475.00 and assigned a "neutral" rating. Stifel Nicolaus increased their target from $250.00 to $435.00 with a "buy" rating. UBS Group set a higher price objective of $630.00 and also rated the stock as a "buy." Citigroup adjusted their price objective from $460.00 to $600.00 with a "buy" rating as well. Furthermore, Wells Fargo & Company identified a target price of $538.00, giving AppLovin an "overweight" rating. Overall, one analyst has rated the stock as a sell, four as hold, fourteen as buy, and one as strong buy. The consensus rating for AppLovin is "Moderate Buy" with an average price target of $438.28.

AppLovin Stock Performance

As of the latest data, AppLovin's stock opened at $346.29. The company's 50-day and 200-day moving averages are $354.81 and $280.21, respectively. AppLovin has a market capitalization of approximately $117.72 billion, a P/E ratio of 76.28, and a price-to-earnings-growth ratio of 3.02. The company maintains a quick ratio and current ratio both at 2.41, with a debt-to-equity ratio of 3.70. The stock's 52-week range shows a low of $60.67 and a high of $525.15. Recently, AppLovin reported earnings of $1.73 per share for the quarter, surpassing analysts' expectations of $1.12, with a net margin of 33.54% and ROE of 188.55%. Future earnings estimates predict an EPS of 6.87 for the current fiscal year.

Company Overview

AppLovin Corporation is a technology company that develops a software platform aimed at improving marketing and monetization for advertisers globally. It operates in two main segments: Software Platform and Apps. AppLovin's offerings include AppDiscovery, which connects advertiser demand with publisher supply through auctions; MAX, which optimizes advertising inventory; and Adjust, a platform for measurement and analytics. Additionally, the company provides streaming video solutions through Wurl, a connected TV platform.

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