Optas LLC Acquires New Holdings in AppLovin Co. (NASDAQ:APP)

Optas LLC bought a new position in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 838 shares of the company’s stock, valued at approximately $271,000.

Several other large investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in AppLovin by 23.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,389 shares of the company’s stock worth $4,110,000 after buying an additional 9,508 shares in the last quarter. Truist Financial Corp increased its holdings in shares of AppLovin by 510.9% during the second quarter. Truist Financial Corp now owns 27,697 shares of the company’s stock valued at $2,305,000 after purchasing an additional 23,163 shares during the period. Cetera Investment Advisers raised its stake in shares of AppLovin by 115.3% during the second quarter. Cetera Investment Advisers now owns 30,619 shares of the company’s stock valued at $2,548,000 after purchasing an additional 16,397 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in AppLovin in the second quarter worth about $241,000. Finally, SG Americas Securities LLC increased its stake in AppLovin by 88.1% during the 3rd quarter. SG Americas Securities LLC now owns 15,554 shares of the company’s stock valued at $2,031,000 after buying an additional 7,286 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $380.26 on Wednesday. The company has a market cap of $127.61 billion, a P/E ratio of 115.23, a price-to-earnings-growth ratio of 3.00 and a beta of 2.30. The company’s fifty day moving average is $343.50 and its two-hundred day moving average is $213.07. 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 Co. has a 12-month low of $44.01 and a 12-month high of $417.64.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business earned $0.30 EPS. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. Equities analysts expect that AppLovin Co. will post 4.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Stifel Nicolaus increased 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. Macquarie lifted their price target on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on AppLovin from $200.00 to $325.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Citigroup lifted their target price on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group raised their price objective on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $366.29.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the sale, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. This trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 593,588 shares of the business’s 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 completion of the transaction, the chief technology officer now 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 disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock valued at $284,773,062 over the last three months. 14.69% of the stock is owned by corporate 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.