Polianta Ltd Buys New Position in AppLovin Co. (NASDAQ:APP)

Polianta Ltd purchased a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, Holdings Channel.com reports. The fund purchased 3,700 shares of the company’s stock, valued at approximately $1,198,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APP. FMR LLC increased its stake in shares of AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the period. Fred Alger Management LLC acquired a new position in shares of AppLovin during the 2nd quarter valued at $290,655,000. 1832 Asset Management L.P. raised its stake in shares of AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock worth $124,522,000 after buying an additional 1,357,400 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of AppLovin by 31.3% in the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after buying an additional 560,560 shares during the period. 41.85% of the stock is currently owned by institutional investors.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $342.34 on Friday. The business has a fifty day simple moving average of $330.75 and a 200 day simple moving average of $189.06. 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 Co. has a 1 year low of $40.71 and a 1 year high of $417.64. The firm has a market cap of $114.89 billion, a price-to-earnings ratio of 103.74, a P/E/G ratio of 2.68 and a beta of 2.29.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company earned $0.30 EPS. The firm’s revenue was up 38.6% on a year-over-year basis. As a group, sell-side analysts predict that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Macquarie boosted their price target on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. The Goldman Sachs Group downgraded AppLovin from a “buy” rating to a “neutral” rating and increased their price objective for the company from $103.00 to $150.00 in a research report on Monday, October 14th. Finally, Wedbush restated an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $338.06.

Insider Transactions at AppLovin

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the transaction, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This trade represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the sale, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock worth $284,773,062 in the last 90 days. 14.69% of the stock is owned by insiders.

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.