AppLovin Co. (NASDAQ:APP) Stake Raised by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its position in AppLovin Co. (NASDAQ:APP - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,777,946 shares of the company's stock after buying an additional 61,222 shares during the period. Dimensional Fund Advisors LP owned about 0.53% of AppLovin worth $575,941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC lifted its holdings in shares of AppLovin by 75.5% during the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after acquiring an additional 5,957,885 shares during the period. SVB Wealth LLC purchased a new position in AppLovin during the fourth quarter worth approximately $1,781,922,000. Geode Capital Management LLC boosted its holdings in shares of AppLovin by 14.5% in the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock valued at $1,462,144,000 after purchasing an additional 573,310 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after buying an additional 4,010,520 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of AppLovin by 68.0% during the 4th quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock worth $977,639,000 after buying an additional 1,222,074 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the sale, the chief executive officer now owns 2,914,492 shares of the company's stock, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on APP. Benchmark lifted their target price on AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Oppenheimer reiterated an "outperform" rating and set a $560.00 target price on shares of AppLovin in a report on Thursday, March 27th. Arete Research set a $200.00 price target on shares of AppLovin in a report on Wednesday, March 5th. Piper Sandler reduced their price target on shares of AppLovin from $575.00 to $425.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Loop Capital reissued a "buy" rating and issued a $650.00 price objective 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $414.05.

AppLovin Stock Up 8.0 %

NASDAQ APP traded up $19.04 during trading hours on Wednesday, reaching $256.75. 5,013,488 shares of the company traded hands, compared to its average volume of 5,844,527. The company has a 50 day moving average of $305.55 and a two-hundred day moving average of $298.48. The stock has a market capitalization of $87.28 billion, a PE ratio of 56.55, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15. 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 (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results 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 net margin of 33.54% and a return on equity of 188.55%. As a group, equities analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

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.