Barclays PLC Has $41.64 Million Holdings in AppLovin Co. (NASDAQ:APP)

Barclays PLC boosted its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 92.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 318,992 shares of the company's stock after acquiring an additional 153,248 shares during the quarter. Barclays PLC owned about 0.10% of AppLovin worth $41,643,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin during the third quarter worth about $25,000. DT Investment Partners LLC purchased a new stake in AppLovin during the 3rd quarter worth approximately $27,000. Meeder Asset Management Inc. purchased a new stake in AppLovin during the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. purchased a new position in shares of AppLovin during the 3rd quarter valued at approximately $29,000. Finally, Quest Partners LLC purchased a new position in shares of AppLovin during the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 41.85% of the company's stock.

Wall Street Analyst Weigh In

APP has been the topic of several recent analyst reports. Macquarie upped their price target on shares of AppLovin from $270.00 to $450.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Piper Sandler assumed coverage on shares of AppLovin in a research note on Wednesday, November 20th. They issued an "overweight" rating and a $400.00 target price on the stock. Daiwa America upgraded AppLovin from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 8th. Daiwa Capital Markets upgraded AppLovin from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Finally, BTIG Research lifted their target price on AppLovin from $202.00 to $291.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $292.79.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 405,676 shares in the company, valued at approximately $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of the company's stock in a transaction dated 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 completion of the sale, the director now directly owns 621,209 shares of the company's stock, valued at $204,688,365.50. The trade was a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 872,896 shares of company stock worth $279,773,021. 14.69% of the stock is owned by corporate insiders.

AppLovin Stock Performance

APP traded down $1.74 during trading hours on Friday, hitting $324.47. The company's stock had a trading volume of 4,700,745 shares, compared to its average volume of 4,585,837. The company has a 50-day simple moving average of $242.30 and a 200 day simple moving average of $142.69. 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 firm has a market capitalization of $108.89 billion, a PE ratio of 98.32, a PEG ratio of 4.17 and a beta of 2.28. AppLovin Co. has a fifty-two week low of $37.40 and a fifty-two week high of $417.64.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company's quarterly revenue was up 38.6% compared to the same quarter last year. During the same period last year, the company earned $0.30 earnings per share. As a group, sell-side analysts expect that AppLovin Co. will post 4.06 EPS for the current 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.