Federated Hermes Inc. Has $153.02 Million Position in AppLovin Co. (NASDAQ:APP)

Federated Hermes Inc. reduced its position in shares of AppLovin Co. (NASDAQ:APP) by 48.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 472,407 shares of the company’s stock after selling 451,711 shares during the period. Federated Hermes Inc. owned approximately 0.14% of AppLovin worth $153,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. SVB Wealth LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at approximately $1,781,922,000. Baillie Gifford & Co. lifted its position in shares of AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after acquiring an additional 4,010,520 shares during the period. Norges Bank acquired a new stake in shares of AppLovin during the 4th quarter worth $828,138,000. Arrowstreet Capital Limited Partnership increased its position in shares of AppLovin by 457.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock worth $936,888,000 after purchasing an additional 2,373,885 shares during the period. Finally, Alliancebernstein L.P. raised its stake in AppLovin by 193.6% in the fourth 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 in the last quarter. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on APP shares. Arete Research set a $200.00 price target on shares of AppLovin in a report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price target on shares of AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Bank of America raised their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. UBS Group boosted their target price on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Citigroup raised their price target on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $435.47.

AppLovin Stock Down 16.3 %

Shares of NASDAQ APP opened at $219.37 on Friday. The company has a market cap of $74.58 billion, a P/E ratio of 48.32, a PEG ratio of 3.02 and a beta of 2.39. The firm has a 50-day simple moving average of $342.89 and a two-hundred day simple moving average of $288.42. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. 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 (NASDAQ:APP) last issued 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 return on equity of 188.55% and a net margin of 33.54%. Research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock valued at $106,401,841 in the last 90 days. Company insiders own 14.69% of the company’s stock.

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.