Strs Ohio Has $808,000 Holdings in AppLovin Co. (NASDAQ:APP)

Strs Ohio lifted its holdings in shares of AppLovin Co. (NASDAQ:APP) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,289 shares of the company’s stock after purchasing an additional 1,056 shares during the period. Strs Ohio’s holdings in AppLovin were worth $808,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Lecap Asset Management Ltd. acquired a new position in AppLovin in the fourth quarter valued at $1,037,000. Sapient Capital LLC acquired a new position in shares of AppLovin during the fourth quarter valued at about $165,057,000. Sequoia Financial Advisors LLC acquired a new position in shares of AppLovin during the fourth quarter valued at about $824,000. Allspring Global Investments Holdings LLC raised its holdings in shares of AppLovin by 486.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 122,936 shares of the company’s stock valued at $4,899,000 after purchasing an additional 101,966 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of AppLovin by 2.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 255,385 shares of the company’s stock valued at $10,177,000 after purchasing an additional 5,950 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the completion of the transaction, the insider now directly owns 546,560 shares of the company’s stock, valued at approximately $31,569,305.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total value of $323,731.50. Following the transaction, the director now owns 12,739 shares in the company, valued at approximately $743,065.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Victoria Valenzuela sold 2,890 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the completion of the transaction, the insider now owns 546,560 shares in the company, valued at approximately $31,569,305.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,215 shares of company stock valued at $4,416,815. Company insiders own 12.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley upped their price objective on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Oppenheimer upped their price objective on shares of AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, April 8th. UBS Group boosted their target price on shares of AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. The Goldman Sachs Group boosted their target price on shares of AppLovin from $59.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Finally, TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $59.31.

AppLovin Stock Down 2.1 %

APP opened at $69.70 on Thursday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31. The stock has a market cap of $23.84 billion, a price-to-earnings ratio of 69.70, a PEG ratio of 1.37 and a beta of 1.90. AppLovin Co. has a twelve month low of $15.41 and a twelve month high of $79.55. The company’s 50-day moving average price is $66.64 and its two-hundred day moving average price is $49.60.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. The firm had revenue of $953.26 million for the quarter, compared to analysts’ expectations of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The company’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.21) earnings per share. As a group, equities analysts expect that AppLovin Co. will post 2.47 earnings per share 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.