Mitsubishi UFJ Trust & Banking Corp Buys 22,680 Shares of AppLovin Co. (NASDAQ:APP)

Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of AppLovin Co. (NASDAQ:APP) by 9.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 274,958 shares of the company’s stock after purchasing an additional 22,680 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in AppLovin were worth $89,040,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Townsquare Capital LLC boosted its holdings in AppLovin by 64.9% in the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after acquiring an additional 3,126 shares during the last quarter. State Street Corp lifted its position in AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after purchasing an additional 428,419 shares during the period. Zacks Investment Management boosted its stake in shares of AppLovin by 328.1% in the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after purchasing an additional 81,331 shares during the last quarter. Toronto Dominion Bank grew its position in shares of AppLovin by 38.8% during the 3rd quarter. Toronto Dominion Bank now owns 25,174 shares of the company’s stock worth $3,286,000 after buying an additional 7,039 shares during the period. Finally, Oxinas Partners Wealth Management LLC bought a new stake in shares of AppLovin during the fourth quarter worth approximately $1,081,000. 41.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on APP shares. Arete Research set a $200.00 target price on shares of AppLovin in a report on Wednesday, March 5th. Benchmark lifted their price objective on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Citigroup boosted their target price on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Stifel Nicolaus increased their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Monday, March 17th. One equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 17,500 shares of the firm’s 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 in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock worth $106,401,841 in the last quarter. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Stock Up 8.2 %

NASDAQ:APP opened at $339.72 on Tuesday. The firm has a market capitalization of $115.49 billion, a price-to-earnings ratio of 74.83, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The stock’s 50 day moving average price is $354.31 and its two-hundred day moving average price is $278.37. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share 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%. Equities research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

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.