Berkshire Capital Holdings Inc. Boosts Stock Position in AppLovin Co. (NASDAQ:APP)

Berkshire Capital Holdings Inc. increased its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 355,800.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 35,590 shares of the company's stock after purchasing an additional 35,580 shares during the period. AppLovin makes up approximately 4.2% of Berkshire Capital Holdings Inc.'s holdings, making the stock its 9th largest position. Berkshire Capital Holdings Inc.'s holdings in AppLovin were worth $11,525,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in APP. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin during the fourth quarter valued at about $25,000. Meeder Asset Management Inc. bought a new position in AppLovin during the third quarter valued at about $27,000. Riverview Trust Co raised its holdings in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. Hemington Wealth Management lifted its position in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after acquiring an additional 40 shares during the period. Finally, Fifth Third Bancorp grew its holdings in shares of AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company's stock worth $32,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

AppLovin Price Performance

Shares of APP stock traded up $25.69 during trading hours on Monday, reaching $339.72. 9,111,745 shares of the company were exchanged, compared to its average volume of 5,260,623. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market cap of $115.49 billion, a price-to-earnings ratio of 74.83, a P/E/G ratio of 3.02 and a beta of 2.33. The stock's fifty day moving average is $354.31 and its two-hundred day moving average is $278.37. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15.

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AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Stifel Nicolaus raised their target price on AppLovin from $250.00 to $435.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Citigroup raised their price objective on shares of AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Piper Sandler upped their target price on shares of AppLovin from $400.00 to $575.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Bank of America raised their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the company an "overweight" rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin has a consensus rating of "Moderate Buy" and a consensus price target of $438.28.

Insider Buying and Selling at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the business'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 approximately $201,675,501.85. The trade was a 24.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 44,400 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the sale, the chief executive officer now owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 306,900 shares of company stock worth $106,401,841. Insiders own 14.69% of the company's stock.

AppLovin Company 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.