Cibc World Markets Corp Acquires 4,124 Shares of AppLovin Co. (NASDAQ:APP)

Cibc World Markets Corp increased its holdings in AppLovin Co. (NASDAQ:APP) by 34.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,027 shares of the company’s stock after purchasing an additional 4,124 shares during the quarter. Cibc World Markets Corp’s holdings in AppLovin were worth $5,190,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on APP. UBS Group boosted their price objective on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Macquarie boosted their price objective on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. The Goldman Sachs Group boosted their price objective on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Stifel Nicolaus boosted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Arete Research set a $200.00 price objective on shares of AppLovin in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $438.28.

AppLovin Trading Up 6.5 %

Shares of AppLovin stock opened at $297.03 on Thursday. The firm has a 50-day simple moving average of $354.37 and a two-hundred day simple moving average of $272.20. The company has a market cap of $100.98 billion, a P/E ratio of 65.43, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share 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%. As a group, equities analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Arash Adam Foroughi sold 44,400 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the transaction, the chief executive officer now owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 in the last 90 days. 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.