Broadleaf Partners LLC Invests $3.97 Million in AppLovin Co. (NASDAQ:APP)

Broadleaf Partners LLC purchased a new position in AppLovin Co. (NASDAQ:APP - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,251 shares of the company's stock, valued at approximately $3,967,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Barclays PLC raised its position in AppLovin by 92.5% during the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock worth $41,643,000 after buying an additional 153,248 shares during the last quarter. Invst LLC increased its stake in AppLovin by 23.2% during the 3rd quarter. Invst LLC now owns 6,812 shares of the company's stock worth $889,000 after buying an additional 1,284 shares in the last quarter. Virtu Financial LLC acquired a new stake in AppLovin during the 3rd quarter worth $3,211,000. SOA Wealth Advisors LLC. acquired a new position in AppLovin during the third quarter worth about $59,000. Finally, Pine Valley Investments Ltd Liability Co purchased a new stake in shares of AppLovin in the third quarter valued at approximately $228,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin 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 of the company's stock, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at approximately $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. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 over the last three months. 14.69% of the stock is currently owned by company insiders.

AppLovin Stock Performance

Shares of APP stock traded up $12.35 during mid-day trading on Tuesday, hitting $240.48. 2,875,034 shares of the stock were exchanged, compared to its average volume of 5,820,645. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $81.75 billion, a price-to-earnings ratio of 52.96, a P/E/G ratio of 3.02 and a beta of 2.39. The stock's fifty day simple moving average is $310.23 and its two-hundred day simple moving average is $298.90.

AppLovin (NASDAQ:APP - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on APP shares. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a report on Monday. The Goldman Sachs Group lowered their price objective on AppLovin from $500.00 to $335.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. FBN Securities assumed coverage on AppLovin in a report on Friday, March 28th. They set an "outperform" rating and a $385.00 price target for the company. UBS Group decreased their target price on shares of AppLovin from $630.00 to $450.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Wells Fargo & Company reduced their price target on shares of AppLovin from $538.00 to $386.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $414.05.

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.