AppLovin Co. (NASDAQ:APP) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI boosted its holdings in shares of AppLovin Co. (NASDAQ:APP) by 4,620.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,350 shares of the company’s stock after buying an additional 46,347 shares during the period. National Bank of Canada FI’s holdings in AppLovin were worth $15,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APP. HighPoint Advisor Group LLC raised its holdings in shares of AppLovin by 1.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after buying an additional 31 shares during the last quarter. Franklin Resources Inc. lifted its position in AppLovin by 8.8% during the 4th quarter. Franklin Resources Inc. now owns 1,084,957 shares of the company’s stock worth $351,342,000 after acquiring an additional 87,961 shares during the period. Alliancebernstein L.P. grew its stake in AppLovin by 193.6% during the 4th quarter. Alliancebernstein L.P. now owns 2,725,101 shares of the company’s stock valued at $882,469,000 after purchasing an additional 1,797,027 shares during the last quarter. AIA Group Ltd acquired a new position in shares of AppLovin in the fourth quarter valued at about $449,000. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of AppLovin by 1.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 406,405 shares of the company’s stock worth $131,606,000 after purchasing an additional 5,087 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Price Performance

NASDAQ:APP opened at $219.37 on Friday. The firm has a market cap of $74.58 billion, a P/E ratio of 48.32, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The stock has a 50 day moving average of $342.89 and a two-hundred day moving average of $287.27. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

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

Analyst Ratings Changes

A number of brokerages recently commented on APP. Arete Research set a $200.00 target price on AppLovin in a research report on Wednesday, March 5th. Jefferies Financial Group raised their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Bank of America upped their price target on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Loop Capital reiterated a “buy” rating and set a $650.00 price objective on shares of AppLovin in a research note on Friday, March 28th. Finally, FBN Securities started coverage on AppLovin in a research note on Friday, March 28th. They issued an “outperform” rating and a $385.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $435.47.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction on 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 sale, the director now owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by insiders.

About AppLovin

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.