Harvest Fund Management Co. Ltd Has $10.98 Million Stake in AppLovin Co. (NASDAQ:APP)

Harvest Fund Management Co. Ltd grew its holdings in AppLovin Co. (NASDAQ:APP) by 102.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 34,412 shares of the company’s stock after buying an additional 17,392 shares during the period. Harvest Fund Management Co. Ltd’s holdings in AppLovin were worth $10,977,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin in the 4th quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in AppLovin in the third quarter worth approximately $27,000. Riverview Trust Co increased its holdings in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares during the last quarter. Hemington Wealth Management increased its holdings in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Down 9.1 %

APP opened at $278.84 on Wednesday. AppLovin Co. has a 1-year low of $60.67 and a 1-year 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 stock has a market capitalization of $94.79 billion, a price-to-earnings ratio of 61.42, a P/E/G ratio of 3.02 and a beta of 2.33. The business has a 50 day moving average of $355.01 and a 200-day moving average of $272.03.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 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, sell-side analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction 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. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 322,871 shares of company stock valued at $111,401,882 over the last ninety days. 14.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup increased their price objective on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Benchmark increased their price objective on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. UBS Group increased their price objective on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $560.00 target price (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $438.28.

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.