AppLovin Co. (NASDAQ:APP) Position Raised by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina boosted its position in AppLovin Co. (NASDAQ:APPFree Report) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 96,140 shares of the company’s stock after purchasing an additional 807 shares during the quarter. Treasurer of the State of North Carolina’s holdings in AppLovin were worth $3,831,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of APP. Sapient Capital LLC bought a new position in shares of AppLovin in the fourth quarter worth $165,057,000. Vanguard Group Inc. grew its position in AppLovin by 8.5% in the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock valued at $723,245,000 after buying an additional 1,411,453 shares in the last quarter. Ameriprise Financial Inc. increased its stake in AppLovin by 4,805.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock valued at $56,050,000 after buying an additional 1,374,066 shares during the period. Norges Bank bought a new stake in shares of AppLovin during the 4th quarter worth about $43,973,000. Finally, FMR LLC lifted its stake in shares of AppLovin by 224.6% in the 3rd quarter. FMR LLC now owns 755,798 shares of the company’s stock worth $30,202,000 after acquiring an additional 522,949 shares during the period. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley boosted their target price on AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Daiwa Capital Markets began coverage on AppLovin in a report on Monday, April 15th. They set a “neutral” rating and a $80.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, May 9th. 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 report on Thursday, February 15th. Finally, Stifel Nicolaus increased their price objective on AppLovin from $85.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.72.

Check Out Our Latest Stock Analysis on APP

Insider Buying and Selling

In other news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $83.36, for a total transaction of $1,458,800,000.00. Following the completion of the sale, the insider now owns 366,567 shares in the company, valued at approximately $30,557,025.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Craig Scott Billings sold 5,620 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $84.97, for a total transaction of $477,531.40. Following the sale, the director now directly owns 1,780 shares in the company, valued at $151,246.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of AppLovin stock in a transaction on Monday, May 13th. The stock was sold at an average price of $83.36, for a total transaction of $1,458,800,000.00. Following the sale, the insider now owns 366,567 shares in the company, valued at approximately $30,557,025.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,722,024 shares of company stock worth $1,476,624,224. Insiders own 14.69% of the company’s stock.

AppLovin Trading Down 1.3 %

NASDAQ APP opened at $81.64 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59. AppLovin Co. has a 1-year low of $21.03 and a 1-year high of $88.50. The firm’s fifty day simple moving average is $76.41 and its 200-day simple moving average is $57.97. The company has a market capitalization of $26.86 billion, a PE ratio of 48.60, a price-to-earnings-growth ratio of 1.38 and a beta of 1.88.

AppLovin (NASDAQ:APPGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $973.70 million. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The business’s revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) EPS. As a group, sell-side analysts anticipate that AppLovin Co. will post 2.96 earnings per share for the current fiscal year.

AppLovin Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for AppLovin (NASDAQ:APP)

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