Royal London Asset Management Ltd. Boosts Holdings in AppLovin Co. (NASDAQ:APP)

Royal London Asset Management Ltd. grew its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 10.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 110,065 shares of the company's stock after buying an additional 10,089 shares during the quarter. Royal London Asset Management Ltd.'s holdings in AppLovin were worth $35,642,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. JFS Wealth Advisors LLC grew its holdings in AppLovin by 38.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company's stock worth $34,000 after acquiring an additional 29 shares in the last quarter. Truvestments Capital LLC increased its holdings in AppLovin by 0.7% in the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company's stock valued at $1,696,000 after buying an additional 38 shares during the last quarter. National Bank of Canada FI raised its stake in AppLovin by 4.0% in the third quarter. National Bank of Canada FI now owns 1,003 shares of the company's stock valued at $131,000 after buying an additional 39 shares in the last quarter. Hemington Wealth Management boosted its position in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company's stock worth $104,000 after acquiring an additional 53 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

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AppLovin Stock Performance

Shares of AppLovin stock traded up $6.57 on Tuesday, reaching $346.29. 7,751,599 shares of the stock were exchanged, compared to its average volume of 5,260,273. 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 $117.72 billion, a PE ratio of 76.28, a PEG ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The business has a fifty day moving average price of $354.31 and a two-hundred day moving average price of $278.37.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (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, research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on APP. Loop Capital boosted their target price on AppLovin from $450.00 to $650.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Arete Research set a $200.00 target price on shares of AppLovin in a report on Wednesday, March 5th. Benchmark lifted their price target on shares of AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Jefferies Financial Group raised their price objective on AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, UBS Group boosted their target price on AppLovin from $440.00 to $630.00 and gave the company a "buy" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, AppLovin presently has an average rating of "Moderate Buy" and an average target price of $438.28.

Insiders Place Their Bets

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now directly owns 621,209 shares of the company's stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by corporate insiders.

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.