AppLovin Co. (NASDAQ:APP) Position Increased by Colonial River Investments LLC

Colonial River Investments LLC increased its position in shares of AppLovin Co. (NASDAQ:APP) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,629 shares of the company’s stock after acquiring an additional 237 shares during the period. Colonial River Investments LLC’s holdings in AppLovin were worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. WCM Investment Management LLC increased its position in AppLovin by 10.5% during the third 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 during the last quarter. FMR LLC increased 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 buying an additional 6,801,138 shares during the last quarter. State Street Corp increased its position in AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after buying an additional 428,419 shares during the last quarter. Baillie Gifford & Co. increased its position in AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after buying an additional 4,010,520 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in AppLovin by 12.8% during the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after buying an additional 449,241 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Stock Down 7.7 %

NASDAQ APP opened at $415.31 on Monday. The stock has a market cap of $139.37 billion, a PE ratio of 91.48, a PEG ratio of 3.28 and a beta of 2.30. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a twelve month low of $56.45 and a twelve month high of $525.15. The firm has a 50-day simple moving average of $365.59 and a 200 day simple moving average of $245.72.

AppLovin (NASDAQ:APP) last announced 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 net margin of 33.54% and a return on equity of 188.55%. On average, research analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on APP. Bank of America increased their target price on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Loop Capital raised their price target on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company raised their price target on AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Four research 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $442.18.

Insider Activity

In other news, Director Dawson Alyssa Harvey sold 500 shares of AppLovin stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the transaction, the director now owns 6,684 shares in the company, valued at approximately $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Victoria Valenzuela sold 17,925 shares of AppLovin 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 of the company’s stock, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 196,302 shares of company stock worth $65,305,354. Insiders own 14.69% of the company’s stock.

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.