NBC Securities Inc. Purchases New Position in AppLovin Co. (NASDAQ:APP)

NBC Securities Inc. purchased a new stake in shares of AppLovin Co. (NASDAQ:APP) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 132 shares of the company’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors also recently modified their holdings of APP. FMR LLC boosted its stake in AppLovin by 75.5% during the fourth quarter. FMR LLC now owns 13,851,122 shares of the company’s stock worth $4,485,409,000 after acquiring an additional 5,957,885 shares in the last quarter. SVB Wealth LLC bought a new stake in AppLovin during the fourth quarter worth about $1,781,922,000. Geode Capital Management LLC boosted its stake in AppLovin by 14.5% during the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company’s stock worth $1,462,144,000 after acquiring an additional 573,310 shares in the last quarter. Baillie Gifford & Co. boosted its stake in AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after acquiring an additional 4,010,520 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in AppLovin by 68.0% during the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company’s stock worth $977,639,000 after acquiring an additional 1,222,074 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Stock Down 4.2%

Shares of APP stock opened at $364.49 on Friday. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. The stock has a market cap of $123.34 billion, a P/E ratio of 80.28, a P/E/G ratio of 3.02 and a beta of 2.53. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a 50 day simple moving average of $324.29 and a two-hundred day simple moving average of $334.14.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company earned $0.67 earnings per share. The firm’s revenue was up 40.3% on a year-over-year basis. On average, research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, Director Craig Scott Billings sold 12,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $353.12, for a total value of $4,237,440.00. Following the completion of the sale, the director now directly owns 2,987 shares of the company’s stock, valued at $1,054,769.44. This represents a 80.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matthew Stumpf sold 9,714 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $423.00, for a total transaction of $4,109,022.00. Following the completion of the sale, the chief financial officer now directly owns 192,421 shares of the company’s stock, valued at approximately $81,394,083. This trade represents a 4.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,212,968 shares of company stock valued at $455,062,980. Insiders own 14.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Arete Research set a $200.00 target price on shares of AppLovin in a research note on Wednesday, March 5th. Benchmark reiterated a “buy” rating and issued a $525.00 target price on shares of AppLovin in a research note on Thursday, May 8th. FBN Securities assumed coverage on shares of AppLovin in a research note on Friday, March 28th. They issued an “outperform” rating and a $385.00 target price on the stock. HSBC set a $436.00 target price on shares of AppLovin and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group upped their target price on shares of AppLovin from $335.00 to $435.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $438.10.

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.