Corient Private Wealth LLC Has $5.99 Million Stake in AppLovin Co. (NASDAQ:APP)

Corient Private Wealth LLC increased its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,556 shares of the company's stock after purchasing an additional 2,592 shares during the quarter. Corient Private Wealth LLC's holdings in AppLovin were worth $5,986,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Townsquare Capital LLC boosted its stake in AppLovin by 64.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company's stock valued at $1,037,000 after purchasing an additional 3,126 shares during the period. State Street Corp grew its position in AppLovin by 8.6% in the 3rd 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 during the last quarter. Eagle Asset Management Inc. increased its holdings in shares of AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company's stock worth $68,297,000 after purchasing an additional 500,407 shares during the period. Zacks Investment Management lifted its stake in shares of AppLovin by 328.1% in the third quarter. Zacks Investment Management now owns 106,121 shares of the company's stock valued at $13,854,000 after buying an additional 81,331 shares during the period. Finally, Toronto Dominion Bank grew its position in AppLovin by 38.8% during the third quarter. Toronto Dominion Bank now owns 25,174 shares of the company's stock worth $3,286,000 after buying an additional 7,039 shares in the last quarter. Institutional investors own 41.85% of the company's stock.

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Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction 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. The trade was a 16.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by insiders.

AppLovin Trading Down 5.4 %

AppLovin stock traded down $18.67 during mid-day trading on Wednesday, hitting $327.62. The stock had a trading volume of 8,289,468 shares, compared to its average volume of 5,288,413. The stock has a 50-day simple moving average of $354.81 and a two-hundred day simple moving average of $280.21. 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 stock has a market capitalization of $111.38 billion, a PE ratio of 72.16, a P/E/G ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last issued its 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 net margin of 33.54% and a return on equity of 188.55%. As a group, sell-side analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on APP. Arete Research set a $200.00 price objective on AppLovin in a research report on Wednesday, March 5th. Citigroup increased their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Stifel Nicolaus lifted their target price on shares of AppLovin from $250.00 to $435.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Macquarie increased their price target on shares of AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Finally, Jefferies Financial Group lifted their price objective on AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $438.28.

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.