Capital World Investors Purchases New Position in AppLovin Co. (NASDAQ:APP)

Capital World Investors bought a new stake in AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,301,517 shares of the company's stock, valued at approximately $421,470,000. Capital World Investors owned 0.39% of AppLovin as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. GHP Investment Advisors Inc. bought a new position in AppLovin during the 4th quarter worth approximately $25,000. Riverview Trust Co boosted its position in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after purchasing an additional 82 shares in the last quarter. Tucker Asset Management LLC bought a new stake in shares of AppLovin in the 4th quarter valued at $28,000. Hemington Wealth Management raised its stake in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after buying an additional 40 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company's stock worth $32,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction 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 in the company, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 306,900 shares of company stock valued at $106,401,841. Corporate insiders own 14.69% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Piper Sandler dropped their price target on AppLovin from $575.00 to $425.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Arete Research set a $200.00 price objective on shares of AppLovin in a research report on Wednesday, March 5th. The Goldman Sachs Group cut their price objective on shares of AppLovin from $500.00 to $335.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Citigroup boosted their target price on AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group raised their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $414.05.

AppLovin Trading Up 6.9 %

NASDAQ:APP traded up $17.39 on Thursday, reaching $269.74. 3,898,792 shares of the stock traded hands, compared to its average volume of 5,858,977. The firm has a market capitalization of $91.70 billion, a price-to-earnings ratio of 59.43, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 1-year low of $60.67 and a 1-year 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. The company's 50 day moving average is $300.39 and its 200-day moving average is $298.16.

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, 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%. Equities research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal 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.