Cozad Asset Management Inc. increased its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 342.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,096 shares of the company's stock after buying an additional 28,706 shares during the period. AppLovin accounts for 1.1% of Cozad Asset Management Inc.'s holdings, making the stock its 20th biggest position. Cozad Asset Management Inc.'s holdings in AppLovin were worth $12,013,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APP. Townsquare Capital LLC raised its stake in shares of AppLovin by 64.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company's stock worth $1,037,000 after buying an additional 3,126 shares during the period. Second Half Financial Partners LLC purchased a new stake in AppLovin in the 3rd quarter worth $224,000. State Street Corp raised its position in AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company's stock worth $703,406,000 after acquiring an additional 428,419 shares during the period. Eagle Asset Management Inc. grew its position in shares of AppLovin by 2,200.4% in the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company's stock valued at $68,297,000 after purchasing an additional 500,407 shares during the period. Finally, Zacks Investment Management increased its stake in shares of AppLovin by 328.1% during the third quarter. Zacks Investment Management now owns 106,121 shares of the company's stock worth $13,854,000 after purchasing an additional 81,331 shares in the last quarter. 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 research analyst reports. Oppenheimer reiterated an "outperform" rating and issued a $560.00 price objective (up from $480.00) on shares of AppLovin in a report on Thursday, February 13th. The Goldman Sachs Group boosted their price objective on AppLovin from $220.00 to $335.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Citigroup increased their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a "hold" rating on shares of AppLovin in a research report on Monday. Finally, Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the stock an "overweight" rating in a research report on Thursday, February 27th. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $438.28.
Read Our Latest Stock Analysis on APP
Insider Buying and Selling at AppLovin
In other news, insider Victoria Valenzuela sold 15,971 shares of the firm's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the sale, the insider now owns 372,205 shares of the company's stock, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 322,871 shares of company stock valued at $111,401,882. Insiders own 14.69% of the company's stock.
AppLovin Stock Down 9.1 %
NASDAQ:APP traded down $28.01 during midday trading on Tuesday, reaching $278.84. The company had a trading volume of 8,600,800 shares, compared to its average volume of 5,215,619. The stock's fifty day simple moving average is $356.03 and its 200-day simple moving average is $270.72. 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 12-month low of $60.67 and a 12-month high of $525.15. The firm has a market capitalization of $94.79 billion, a price-to-earnings ratio of 61.42, a PEG ratio of 3.02 and a beta of 2.33.
AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, sell-side analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.
AppLovin Company Profile
(
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.
Further Reading
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