AppLovin Co. (NASDAQ:APP) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its position in AppLovin Co. (NASDAQ:APP - Free Report) by 25.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,749 shares of the company's stock after purchasing an additional 2,565 shares during the quarter. Commonwealth Equity Services LLC's holdings in AppLovin were worth $4,128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its position in shares of AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company's stock worth $1,030,462,000 after buying an additional 6,801,138 shares during the last quarter. SVB Wealth LLC purchased a new position in AppLovin in the fourth quarter worth $1,781,922,000. State Street Corp increased its position in shares of AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company's stock worth $703,406,000 after purchasing an additional 428,419 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock worth $1,322,682,000 after purchasing an additional 4,010,520 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in AppLovin by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company's stock worth $514,418,000 after buying an additional 449,241 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

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Insiders Place Their Bets

In related news, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm'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 transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on APP shares. Loop Capital raised their price target on AppLovin from $450.00 to $650.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on shares of AppLovin from $325.00 to $475.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Bank of America upped their price target on shares of AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Jefferies Financial Group lifted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research report on Monday, March 17th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $438.28.

AppLovin Stock Performance

Shares of NASDAQ:APP traded down $65.92 during trading on Thursday, hitting $261.70. 20,114,866 shares of the stock traded hands, compared to its average volume of 5,350,784. The company has a fifty day moving average price of $354.67 and a two-hundred day moving average price of $280.55. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a market cap of $88.97 billion, a price-to-earnings ratio of 57.64, a P/E/G ratio of 3.02 and a beta of 2.33. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping 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%. As a group, equities analysts predict that AppLovin Co. will post 6.87 EPS 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.