AppLovin Co. (NASDAQ:APP) Stake Raised by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in AppLovin Co. (NASDAQ:APP) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 440,489 shares of the company’s stock after acquiring an additional 24,451 shares during the quarter. Rhumbline Advisers owned about 0.13% of AppLovin worth $142,643,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC raised its holdings 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 buying an additional 6,801,138 shares during the period. Jennison Associates LLC acquired a new stake in AppLovin during the 4th quarter worth about $414,462,000. WCM Investment Management LLC raised its holdings 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 buying an additional 1,029,009 shares during the period. Janus Henderson Group PLC raised its holdings in AppLovin by 31.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after buying an additional 560,560 shares during the period. Finally, Eagle Asset Management Inc. raised its holdings in AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after buying an additional 500,407 shares during the period. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Up 8.2 %

Shares of AppLovin stock opened at $510.13 on Friday. The stock has a market capitalization of $171.19 billion, a P/E ratio of 154.59, a PEG ratio of 3.10 and a beta of 2.30. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a 50 day moving average price of $351.33 and a two-hundred day moving average price of $230.42. AppLovin Co. has a 12-month low of $52.75 and a 12-month high of $525.15.

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 return on equity of 122.24% and a net margin of 26.85%. Equities analysts expect that AppLovin Co. will post 4.09 earnings per share for the current year.

Analysts Set New Price Targets

APP has been the topic of several research analyst reports. Macquarie lifted their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. UBS Group lifted their target price on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Thursday. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $422.18.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was 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 in the company, valued at $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig Scott Billings sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the transaction, the director now owns 2,987 shares of the company’s stock, valued at approximately $952,673.78. This trade represents a 85.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 828,991 shares of company stock worth $267,640,144 over the last three months. 14.69% of the stock is currently owned by insiders.

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.