1,330 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Mandatum Life Insurance Co Ltd

Mandatum Life Insurance Co Ltd bought a new stake in AppLovin Co. (NASDAQ:APP) during the 4th quarter, HoldingsChannel reports. The fund bought 1,330 shares of the company’s stock, valued at approximately $431,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in APP. Capital Performance Advisors LLP acquired a new position in shares of AppLovin during the 3rd quarter worth $25,000. DT Investment Partners LLC acquired a new position in AppLovin during the third quarter worth about $27,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin in the third quarter worth about $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter valued at approximately $29,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of AppLovin during the 2nd quarter valued at approximately $34,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 500 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the transaction, the director now owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the sale, the insider now directly owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by insiders.

AppLovin Trading Up 3.1 %

NASDAQ:APP opened at $342.34 on Monday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a one year low of $40.71 and a one year high of $417.64. The company has a market cap of $114.89 billion, a PE ratio of 103.74, a PEG ratio of 2.68 and a beta of 2.29. The firm has a 50-day moving average of $330.75 and a 200-day moving average of $189.78.

AppLovin (NASDAQ:APP) last issued 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. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company posted $0.30 EPS. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. As a group, equities research analysts expect that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. The Goldman Sachs Group downgraded AppLovin from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. Macquarie boosted their target price on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. BTIG Research increased their price target on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Benchmark began coverage on AppLovin in a research note on Friday, January 10th. They issued a “buy” rating and a $375.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $338.06.

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.