Rhumbline Advisers Has $142.64 Million Stake in AppLovin Co. (NASDAQ:APP)

Rhumbline Advisers lifted its position in AppLovin Co. (NASDAQ:APP) by 5.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 440,489 shares of the company’s stock after acquiring an additional 24,451 shares during the period. Rhumbline Advisers’ holdings in AppLovin were worth $142,643,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. GHP Investment Advisors Inc. acquired a new position in AppLovin during the fourth quarter worth $25,000. Hemington Wealth Management raised its stake in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Fifth Third Bancorp raised its stake in AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after acquiring an additional 62 shares in the last quarter. Bogart Wealth LLC acquired a new position in AppLovin during the fourth quarter worth $37,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in AppLovin by 139.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock worth $50,000 after acquiring an additional 89 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the sale, the insider now owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. This trade represents a 4.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of AppLovin stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at approximately $204,688,365.50. This represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 828,991 shares of company stock valued at $267,640,144 over the last 90 days. 14.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on APP. Citigroup increased their target price on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. UBS Group increased their target price on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday. Wedbush restated an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Benchmark increased their target price on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Macquarie raised their price target on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $422.18.

AppLovin Trading Up 8.2 %

NASDAQ:APP opened at $510.13 on Friday. AppLovin Co. has a 1-year low of $52.75 and a 1-year high of $525.15. The business’s 50-day moving average price is $351.33 and its two-hundred day moving average price is $230.42. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $171.19 billion, a price-to-earnings ratio of 154.59, a PEG ratio of 3.10 and a beta of 2.30.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. On average, equities analysts expect that AppLovin Co. will post 4.09 earnings per share for the current year.

AppLovin Company 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.