Exchange Traded Concepts LLC Has $9.34 Million Holdings in AppLovin Co. (NASDAQ:APP)

Exchange Traded Concepts LLC raised its stake in shares of AppLovin Co. (NASDAQ:APP) by 152.2% during the 4th quarter, HoldingsChannel reports. The firm owned 28,848 shares of the company’s stock after purchasing an additional 17,410 shares during the quarter. Exchange Traded Concepts LLC’s holdings in AppLovin were worth $9,342,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of APP. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC bought a new stake in shares of AppLovin during the third quarter valued at approximately $27,000. Meeder Asset Management Inc. acquired a new position in shares of AppLovin in the third quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new stake in AppLovin during the third quarter worth $29,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in AppLovin in the second quarter valued at about $34,000. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

APP has been the subject of a number of analyst reports. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Bank of America lifted their target price on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, Piper Sandler began coverage on AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.41.

Insider Activity

In related news, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the sale, the chief executive officer now owns 3,058,635 shares in the company, valued at approximately $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock valued at $284,773,062 in the last ninety days. 14.69% of the stock is owned by insiders.

AppLovin Trading Up 0.2 %

APP opened at $363.10 on Friday. AppLovin Co. has a fifty-two week low of $40.71 and a fifty-two week high of $417.64. The company has a market cap of $121.85 billion, a price-to-earnings ratio of 110.03, a price-to-earnings-growth ratio of 2.96 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a 50 day simple moving average of $337.41 and a 200 day simple moving average of $197.62.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results 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. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 EPS. On average, sell-side analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current 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.