AppLovin Co. (NASDAQ:APP) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its position in shares of AppLovin Co. (NASDAQ:APP) by 457.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,893,148 shares of the company’s stock after buying an additional 2,373,885 shares during the quarter. AppLovin makes up 0.7% of Arrowstreet Capital Limited Partnership’s holdings, making the stock its 16th biggest position. Arrowstreet Capital Limited Partnership owned about 0.86% of AppLovin worth $936,888,000 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. JFS Wealth Advisors LLC raised its stake in shares of AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after buying an additional 29 shares during the period. Truvestments Capital LLC raised its position in AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after acquiring an additional 38 shares during the period. National Bank of Canada FI lifted its holdings in AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after purchasing an additional 39 shares in the last quarter. Hemington Wealth Management increased its stake in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in AppLovin by 19.7% in the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after buying an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on APP. FBN Securities initiated coverage on shares of AppLovin in a report on Friday. They set an “outperform” rating and a $385.00 target price for the company. Jefferies Financial Group boosted their price objective on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Oppenheimer reiterated an “outperform” rating on shares of AppLovin in a report on Thursday. UBS Group upped their price objective on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Stifel Nicolaus lifted their target price on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $435.47.

AppLovin Stock Performance

Shares of AppLovin stock opened at $272.38 on Friday. The stock has a market capitalization of $92.60 billion, a price-to-earnings ratio of 60.00, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. 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 business has a 50-day moving average of $351.86 and a 200 day moving average of $283.07. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, sell-side analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction 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 sale, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 306,900 shares of company stock worth $106,401,841. Company insiders own 14.69% of the company’s stock.

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.