Amundi Acquires 242,539 Shares of AppLovin Co. (NASDAQ:APP)

Amundi increased its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 67.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 603,766 shares of the company's stock after buying an additional 242,539 shares during the quarter. Amundi owned about 0.18% of AppLovin worth $198,760,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Farther Finance Advisors LLC grew its position in AppLovin by 150.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company's stock worth $133,000 after purchasing an additional 613 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of AppLovin in the 3rd quarter worth $25,000. CWA Asset Management Group LLC bought a new stake in shares of AppLovin in the third quarter worth $1,730,000. Verdence Capital Advisors LLC increased its position in AppLovin by 128.9% during the third quarter. Verdence Capital Advisors LLC now owns 11,022 shares of the company's stock valued at $1,439,000 after acquiring an additional 6,206 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in AppLovin by 131.8% in the third quarter. Assetmark Inc. now owns 9,637 shares of the company's stock valued at $1,258,000 after acquiring an additional 5,480 shares during the period. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Trading Up 4.2 %

Shares of APP opened at $270.48 on Monday. The firm has a market cap of $90.77 billion, a P/E ratio of 59.58, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 1 year low of $59.30 and a 1 year high of $525.15. The company has a 50 day simple moving average of $363.84 and a two-hundred day simple moving average of $262.97.

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AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, equities analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the firm's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value 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 trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of the company's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the sale, the director now directly owns 621,209 shares in the company, valued at approximately $204,688,365.50. The trade was a 13.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 406,047 shares of company stock valued at $140,390,817. 14.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

APP has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price target on AppLovin from $220.00 to $335.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Loop Capital boosted their target price on shares of AppLovin from $450.00 to $650.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Jefferies Financial Group lifted their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Citigroup upped their price objective on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $452.29.

About AppLovin

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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