Retireful LLC Makes New Investment in AppLovin Co. (NASDAQ:APP)

Retireful LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,548 shares of the company's stock, valued at approximately $2,444,000. AppLovin accounts for approximately 1.4% of Retireful LLC's portfolio, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. WCM Investment Management LLC raised its stake in AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company's stock valued at $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. FMR LLC grew its holdings in shares of AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company's stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares during the last quarter. Lone Pine Capital LLC increased its position in shares of AppLovin by 7.2% during the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company's stock worth $474,557,000 after purchasing an additional 382,767 shares in the last quarter. State Street Corp lifted its holdings in shares of AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company's stock valued at $703,406,000 after purchasing an additional 428,419 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of AppLovin by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company's stock valued at $514,418,000 after purchasing an additional 449,241 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

In other news, CEO Arash Adam Foroughi sold 1,676 shares of the company's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the transaction, the chief executive officer now directly owns 3,058,635 shares of the company's stock, valued at approximately $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 17,925 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares of the company's stock, valued at $143,670,155.40. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 888,867 shares of company stock valued at $284,773,062. Corporate insiders own 14.69% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on APP shares. Loop Capital boosted their price objective on AppLovin from $385.00 to $450.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Piper Sandler began coverage on shares of AppLovin in a research report on Wednesday, November 20th. They set an "overweight" rating and a $400.00 price objective on the stock. Wells Fargo & Company upped their target price on shares of AppLovin from $360.00 to $366.00 and gave the company an "overweight" rating in a report on Monday. BTIG Research raised their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, Oppenheimer reiterated an "outperform" rating and set a $480.00 price target on shares of AppLovin in a research note on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $338.06.

AppLovin Stock Up 3.1 %

Shares of APP stock traded up $10.33 during mid-day trading on Friday, reaching $342.34. 4,173,415 shares of the company were exchanged, compared to its average volume of 4,138,808. The company has a market capitalization of $114.89 billion, a P/E ratio of 103.74, a P/E/G ratio of 2.68 and a beta of 2.29. The business's 50 day simple moving average is $329.70 and its 200 day simple moving average is $186.54. 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 Co. has a fifty-two week low of $40.71 and a fifty-two week high of $417.64.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm earned $0.30 EPS. The company's revenue was up 38.6% on a year-over-year basis. Research analysts predict that AppLovin Co. will post 4.06 earnings per share for the current year.

AppLovin Company 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.