AppLovin Co. (NASDAQ:APP) Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. increased its stake in shares of AppLovin Co. (NASDAQ:APP) by 351.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,437 shares of the company’s stock after acquiring an additional 28,366 shares during the period. iA Global Asset Management Inc.’s holdings in AppLovin were worth $11,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its holdings in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares during the period. SVB Wealth LLC acquired a new stake in AppLovin in the fourth quarter valued at approximately $1,781,922,000. Baillie Gifford & Co. grew its holdings in AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares during the period. Raymond James Financial Inc. acquired a new stake in AppLovin in the fourth quarter valued at approximately $535,070,000. Finally, Jennison Associates LLC acquired a new stake in AppLovin in the fourth quarter valued at approximately $414,462,000. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Price Performance

Shares of NASDAQ APP opened at $297.03 on Thursday. The stock’s 50-day moving average is $354.37 and its two-hundred day moving average is $272.20. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The company has a market cap of $100.98 billion, a price-to-earnings ratio of 65.43, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on APP shares. Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the company an “overweight” rating in a report on Thursday, February 27th. Benchmark raised their price objective on AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Macquarie raised their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Bank of America raised their target price on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised their target price on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $438.28.

Insiders Place Their Bets

In other news, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is owned by company 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.