AppLovin Co. (NASDAQ:APP) Shares Bought by Caprock Group LLC

Caprock Group LLC boosted its stake in shares of AppLovin Co. (NASDAQ:APP) by 42.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,146 shares of the company’s stock after buying an additional 12,500 shares during the period. Caprock Group LLC’s holdings in AppLovin were worth $13,648,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APP. Alta Wealth Advisors LLC lifted its stake in shares of AppLovin by 17.8% in the 4th quarter. Alta Wealth Advisors LLC now owns 1,823 shares of the company’s stock valued at $590,000 after purchasing an additional 276 shares during the last quarter. Oak Harvest Investment Services acquired a new position in shares of AppLovin in the 4th quarter valued at $648,000. Baron Wealth Management LLC purchased a new stake in shares of AppLovin in the 4th quarter valued at $448,000. Swedbank AB raised its holdings in shares of AppLovin by 13.7% in the 4th quarter. Swedbank AB now owns 109,708 shares of the company’s stock valued at $35,527,000 after buying an additional 13,253 shares during the period. Finally, BOCHK Asset Management Ltd purchased a new stake in shares of AppLovin in the 4th quarter valued at $25,055,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the transaction, the insider now owns 405,676 shares in the company, valued at approximately $143,670,155.40. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 888,867 shares of company stock worth $284,773,062. Corporate insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $374.78 on Friday. 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’s fifty day moving average price is $340.85 and its two-hundred day moving average price is $205.26. AppLovin Co. has a 1 year low of $40.71 and a 1 year high of $417.64. The firm has a market capitalization of $125.77 billion, a P/E ratio of 113.60, a price-to-earnings-growth ratio of 2.97 and a beta of 2.29.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company’s revenue was up 38.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. As a group, research analysts anticipate that AppLovin Co. will post 4.09 EPS for the current year.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of analyst reports. The Goldman Sachs Group increased their target price on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday. Piper Sandler initiated coverage on AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price for the company. JPMorgan Chase & Co. increased their target price on AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Finally, Benchmark initiated coverage on AppLovin in a research note on Friday, January 10th. They issued a “buy” rating and a $375.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $366.29.

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.