AppLovin Co. (NASDAQ:APP) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its holdings in AppLovin Co. (NASDAQ:APP) by 4.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,348 shares of the company’s stock after buying an additional 622 shares during the quarter. Park Avenue Securities LLC’s holdings in AppLovin were worth $4,646,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Private Advisor Group LLC boosted its position in AppLovin by 98.6% during the 2nd quarter. Private Advisor Group LLC now owns 7,144 shares of the company’s stock worth $595,000 after purchasing an additional 3,547 shares during the period. Quest Partners LLC acquired a new position in shares of AppLovin during the second quarter worth about $33,000. American Century Companies Inc. lifted its stake in shares of AppLovin by 80.1% during the second quarter. American Century Companies Inc. now owns 232,378 shares of the company’s stock worth $19,338,000 after purchasing an additional 103,335 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of AppLovin by 695.0% in the second quarter. Envestnet Asset Management Inc. now owns 549,453 shares of the company’s stock worth $45,725,000 after buying an additional 480,336 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of AppLovin by 3.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 186,395 shares of the company’s stock valued at $15,512,000 after buying an additional 5,483 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Down 0.9 %

APP stock opened at $332.01 on Friday. The firm has a market cap of $111.42 billion, a price-to-earnings ratio of 100.61, a PEG ratio of 2.68 and a beta of 2.29. AppLovin Co. has a 1-year low of $39.43 and a 1-year high of $417.64. The firm has a fifty day moving average price of $327.99 and a two-hundred day moving average price of $185.52. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. Research analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on APP shares. Jefferies Financial Group boosted their price target on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. BTIG Research boosted their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus raised their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Wells Fargo & Company boosted their price objective on shares of AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $338.06.

Insider Transactions at AppLovin

In related news, CTO Vasily Shikin sold 593,588 shares of AppLovin stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the sale, the chief technology officer now directly owns 3,919,024 shares in the company, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the transaction, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is currently owned by company insiders.

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.