Alliancebernstein L.P. Has $882.47 Million Stake in AppLovin Co. (NASDAQ:APP)

Alliancebernstein L.P. boosted its stake in shares of AppLovin Co. (NASDAQ:APP) by 193.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,725,101 shares of the company’s stock after buying an additional 1,797,027 shares during the quarter. Alliancebernstein L.P. owned approximately 0.81% of AppLovin worth $882,469,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in APP. AIA Group Ltd bought a new stake in shares of AppLovin in the 4th quarter valued at $449,000. O Shaughnessy Asset Management LLC lifted its holdings in AppLovin by 1.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 406,405 shares of the company’s stock valued at $131,606,000 after buying an additional 5,087 shares during the period. Clearbridge Investments LLC boosted its position in AppLovin by 6.9% during the fourth quarter. Clearbridge Investments LLC now owns 947,642 shares of the company’s stock valued at $306,875,000 after acquiring an additional 61,152 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in AppLovin by 27,065.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 148,323 shares of the company’s stock worth $48,828,000 after acquiring an additional 147,777 shares during the period. Finally, Summit Securities Group LLC bought a new position in shares of AppLovin in the 4th quarter worth about $94,000. Institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on APP shares. Macquarie raised their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Arete Research set a $200.00 price objective on shares of AppLovin in a research report on Wednesday, March 5th. Piper Sandler boosted their target price on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Citigroup increased their price target on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Loop Capital reaffirmed a “buy” rating on shares of AppLovin in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $435.47.

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock worth $106,401,841 in the last three months. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Trading Up 4.1 %

Shares of APP opened at $272.38 on Monday. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The business has a 50-day moving average of $351.86 and a 200 day moving average of $284.38. The firm has a market cap of $92.60 billion, a P/E 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 quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (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, research analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

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.