Roberts Foundation Purchases Shares of 68,941 AppLovin Co. (NASDAQ:APP)

Roberts Foundation acquired a new position in shares of AppLovin Co. (NASDAQ:APP) in the 4th quarter, Holdings Channel reports. The fund acquired 68,941 shares of the company’s stock, valued at approximately $22,325,000. AppLovin makes up about 10.7% of Roberts Foundation’s portfolio, making the stock its 3rd biggest holding.

Several other large investors have also modified their holdings of APP. Private Advisor Group LLC boosted its position in shares of AppLovin by 58.0% in the 3rd quarter. Private Advisor Group LLC now owns 11,291 shares of the company’s stock valued at $1,474,000 after purchasing an additional 4,147 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in AppLovin by 1.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,627 shares of the company’s stock valued at $1,741,000 after buying an additional 157 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of AppLovin in the third quarter valued at approximately $292,000. Pallas Capital Advisors LLC grew its position in shares of AppLovin by 3.0% during the third quarter. Pallas Capital Advisors LLC now owns 15,916 shares of the company’s stock worth $2,078,000 after acquiring an additional 459 shares during the last quarter. Finally, abrdn plc increased its holdings in shares of AppLovin by 784.2% in the 3rd quarter. abrdn plc now owns 49,691 shares of the company’s stock valued at $6,487,000 after acquiring an additional 44,071 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

APP stock opened at $331.00 on Thursday. The firm has a 50 day moving average of $368.06 and a 200-day moving average of $250.75. AppLovin Co. has a 12-month low of $57.40 and a 12-month high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market cap of $111.08 billion, a price-to-earnings ratio of 72.91, a PEG ratio of 3.02 and a beta of 2.30.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, equities analysts expect that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, Director Herald Y. Chen sold 99,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the sale, the director now owns 621,209 shares of the company’s stock, valued at $204,688,365.50. This represents a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Margaret Hasti Georgiadis sold 30,500 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $339.69, for a total transaction of $10,360,545.00. Following the transaction, the director now directly owns 154,500 shares of the company’s stock, valued at approximately $52,482,105. This trade represents a 16.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,372 shares of company stock worth $92,519,099 in the last three months. Corporate insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on APP shares. Piper Sandler raised their price objective on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Loop Capital boosted their price target on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. UBS Group upped their price objective on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Stifel Nicolaus upped their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $452.29.

About AppLovin

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.