19,337 Shares in AppLovin Co. (NASDAQ:APP) Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC acquired a new position in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 19,337 shares of the company’s stock, valued at approximately $6,262,000.

Other institutional investors have also recently bought and sold shares of the company. Sava Infond d.o.o. bought a new position in shares of AppLovin during the fourth quarter worth approximately $130,000. Elo Mutual Pension Insurance Co increased its stake in AppLovin by 13.7% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 20,629 shares of the company’s stock worth $6,680,000 after acquiring an additional 2,484 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in AppLovin by 11.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 193,288 shares of the company’s stock valued at $67,776,000 after acquiring an additional 19,753 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of AppLovin during the 4th quarter valued at $324,000. Finally, Banco BTG Pactual S.A. acquired a new stake in shares of AppLovin during the 4th quarter worth $329,000. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This trade represents 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 over the last ninety days. 14.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on APP. Citigroup boosted their price target on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Jefferies Financial Group lifted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Wells Fargo & Company set a $538.00 target price on AppLovin and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group lifted their price target on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $438.28.

AppLovin Trading Down 20.1 %

Shares of NASDAQ APP opened at $261.70 on Friday. The firm has a 50 day moving average price of $353.26 and a two-hundred day moving average price of $280.42. The stock has a market cap of $88.97 billion, a P/E ratio of 57.64, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, equities analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

AppLovin 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.