AppLovin Co. (NASDAQ:APP) Shares Purchased by Atria Investments Inc

Atria Investments Inc increased its stake in shares of AppLovin Co. (NASDAQ:APP) by 70.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 7,507 shares of the company’s stock after purchasing an additional 3,108 shares during the quarter. Atria Investments Inc’s holdings in AppLovin were worth $2,431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its position in AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares during the last quarter. SVB Wealth LLC purchased a new position in AppLovin during the 4th quarter worth $1,781,922,000. Baillie Gifford & Co. grew its position in AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after purchasing an additional 4,010,520 shares during the last quarter. Jennison Associates LLC purchased a new position in AppLovin during the 4th quarter worth $414,462,000. Finally, WCM Investment Management LLC grew its position in AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 4.2 %

APP stock opened at $270.48 on Monday. The company has a market cap of $90.77 billion, a P/E ratio of 59.58, a P/E/G ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 52 week low of $59.30 and a 52 week high of $525.15. The company’s 50-day moving average price is $363.84 and its 200 day moving average price is $262.97. 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 (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

APP has been the topic of several research reports. Wells Fargo & Company set a $538.00 price objective on shares of AppLovin and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Arete Research raised shares of AppLovin to a “strong sell” rating in a report on Wednesday, March 5th. Citigroup lifted their target price on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. UBS Group lifted their target price on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Stifel Nicolaus lifted their target price on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $452.29.

Insiders Place Their Bets

In other news, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 406,047 shares of company stock worth $140,390,817. Insiders own 14.69% of the company’s stock.

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.