Fulton Bank N.A. Raises Stake in AppLovin Co. (NASDAQ:APP)

Fulton Bank N.A. boosted its holdings in shares of AppLovin Co. (NASDAQ:APPFree Report) by 12.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,429 shares of the company’s stock after purchasing an additional 908 shares during the quarter. Fulton Bank N.A.’s holdings in AppLovin were worth $2,730,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. WCM Investment Management LLC grew its position in shares of AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after acquiring an additional 1,029,009 shares during the period. FMR LLC boosted its position in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares in the last quarter. Lone Pine Capital LLC grew its holdings in AppLovin by 7.2% in the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after purchasing an additional 382,767 shares during the period. State Street Corp grew its holdings in AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after purchasing an additional 428,419 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of AppLovin by 12.8% in the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after buying an additional 449,241 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on APP shares. Jefferies Financial Group lifted their target price on shares of AppLovin from $270.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their price objective on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and increased their target price for the company from $103.00 to $150.00 in a report on Monday, October 14th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and raised their target price for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. Finally, Wedbush reiterated an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $310.71.

Read Our Latest Stock Analysis on AppLovin

AppLovin Trading Down 1.2 %

NASDAQ:APP traded down $3.80 during mid-day trading on Wednesday, reaching $326.21. The company’s stock had a trading volume of 2,461,099 shares, compared to its average volume of 4,437,826. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $109.47 billion, a P/E ratio of 98.85, a P/E/G ratio of 4.17 and a beta of 2.29. The company’s fifty day simple moving average is $308.96 and its two-hundred day simple moving average is $175.97. AppLovin Co. has a twelve month low of $38.60 and a twelve month high of $417.64.

AppLovin (NASDAQ:APPGet Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, equities analysts predict that AppLovin Co. will post 4.06 EPS for the current year.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares of the company’s stock, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 593,588 shares of AppLovin 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 transaction, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock worth $284,773,062 over the last 90 days. Company insiders own 14.69% of the company’s stock.

About AppLovin

(Free Report)

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.

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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