FIL Ltd Purchases 101,180 Shares of AppLovin Co. (NASDAQ:APP)

FIL Ltd increased its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 172.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 159,750 shares of the company's stock after buying an additional 101,180 shares during the quarter. FIL Ltd's holdings in AppLovin were worth $51,732,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in APP. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin in the fourth quarter worth approximately $25,000. Riverview Trust Co boosted its holdings in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after acquiring an additional 82 shares during the last quarter. Tucker Asset Management LLC bought a new stake in shares of AppLovin in the 4th quarter worth $28,000. Hemington Wealth Management raised its holdings in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company's stock valued at $32,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on APP shares. Arete Research set a $200.00 price objective on shares of AppLovin in a research note on Wednesday, March 5th. Oppenheimer reiterated an "outperform" rating and set a $560.00 price target on shares of AppLovin in a report on Thursday, March 27th. JPMorgan Chase & Co. upped their price objective on AppLovin from $325.00 to $475.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Benchmark lifted their target price on AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, Loop Capital restated a "buy" rating and set a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $424.84.

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Insider Activity

In related news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction 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 transaction, the chief technology officer now owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares of the company's stock, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

Shares of APP stock traded down $4.22 on Monday, reaching $245.73. The company's stock had a trading volume of 2,607,287 shares, compared to its average volume of 5,752,115. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15. The stock's 50 day simple moving average is $327.20 and its 200-day simple moving average is $294.56. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market capitalization of $83.54 billion, a P/E ratio of 54.13, a PEG ratio of 3.02 and a beta of 2.39.

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

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.