Abacus FCF Advisors LLC lifted its position in AppLovin Co. (NASDAQ:APP - Free Report) by 46.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,897 shares of the company's stock after buying an additional 17,732 shares during the quarter. AppLovin comprises 2.4% of Abacus FCF Advisors LLC's investment portfolio, making the stock its 5th largest holding. Abacus FCF Advisors LLC's holdings in AppLovin were worth $18,101,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in APP. Capula Management Ltd acquired a new stake in AppLovin in the 4th quarter worth $1,512,000. Bank of Nova Scotia raised its stake in AppLovin by 14.5% during the fourth quarter. Bank of Nova Scotia now owns 4,470 shares of the company's stock worth $1,448,000 after acquiring an additional 565 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of AppLovin by 169.0% during the fourth quarter. Renaissance Technologies LLC now owns 522,400 shares of the company's stock valued at $169,169,000 after acquiring an additional 328,200 shares during the period. FIL Ltd grew its holdings in shares of AppLovin by 172.8% in the 4th quarter. FIL Ltd now owns 159,750 shares of the company's stock worth $51,732,000 after purchasing an additional 101,180 shares during the last quarter. Finally, Shelton Capital Management increased its position in shares of AppLovin by 162.7% during the 4th quarter. Shelton Capital Management now owns 46,237 shares of the company's stock worth $14,973,000 after purchasing an additional 28,637 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.
AppLovin Stock Performance
Shares of APP traded down $13.88 during mid-day trading on Friday, reaching $249.95. The company's stock had a trading volume of 8,949,643 shares, compared to its average volume of 5,751,052. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The business has a 50-day simple moving average of $327.20 and a two-hundred day simple moving average of $293.41. The stock has a market cap of $84.97 billion, a P/E ratio of 55.06, a PEG ratio of 3.02 and a beta of 2.39.
AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts' consensus estimates 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, equities research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. Jefferies Financial Group lifted their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Monday, March 17th. Wells Fargo & Company cut their price target on AppLovin from $538.00 to $386.00 and set an "overweight" rating for the company in a report on Tuesday. UBS Group lowered their target price on AppLovin from $630.00 to $450.00 and set a "buy" rating for the company in a research note on Friday. Finally, Bank of America lifted their target price on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $424.84.
Read Our Latest Report on AppLovin
Insider Activity at AppLovin
In other news, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the transaction, the chief executive officer now directly owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,900 shares of company stock worth $106,401,841. Corporate insiders own 14.69% of the company's stock.
About AppLovin
(
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.
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