Catalyst Funds Management Pty Ltd Takes $11.59 Million Position in AppLovin Co. (NASDAQ:APP)

Catalyst Funds Management Pty Ltd bought a new stake in AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 35,800 shares of the company’s stock, valued at approximately $11,593,000. AppLovin accounts for about 2.8% of Catalyst Funds Management Pty Ltd’s investment portfolio, making the stock its 5th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin in the 4th quarter worth about $25,000. Riverview Trust Co raised its holdings in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after buying an additional 82 shares during the period. Hemington Wealth Management lifted its position in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Fifth Third Bancorp grew its stake in AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares during the period. Finally, Smithfield Trust Co acquired a new stake in shares of AppLovin in the fourth quarter worth $32,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $410.89, for a total value of $18,243,516.00. Following the sale, the chief executive officer now directly owns 2,869,492 shares in the company, valued at approximately $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 322,871 shares of company stock worth $111,401,882. 14.69% of the stock is currently owned by company insiders.

AppLovin Stock Performance

Shares of APP opened at $292.89 on Friday. The stock has a market capitalization of $99.57 billion, a PE ratio of 64.51, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The business’s fifty day moving average price is $357.00 and its 200 day moving average price is $266.70. 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 Co. has a 12-month low of $60.67 and a 12-month high of $525.15.

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

Analyst Upgrades and Downgrades

APP has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Arete Research set a $200.00 target price on AppLovin in a research note on Wednesday, March 5th. The Goldman Sachs Group raised their target price on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Loop Capital upped their price target on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus lifted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have issued 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, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $438.28.

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.