Daiwa Securities Group Inc. Boosts Position in AppLovin Co. (NASDAQ:APP)

Daiwa Securities Group Inc. raised its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,633 shares of the company's stock after purchasing an additional 2,327 shares during the period. Daiwa Securities Group Inc.'s holdings in AppLovin were worth $27,082,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in shares of AppLovin by 150.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,020 shares of the company's stock valued at $133,000 after buying an additional 613 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in AppLovin in the third quarter valued at $25,000. CWA Asset Management Group LLC acquired a new position in AppLovin in the third quarter valued at $1,730,000. Verdence Capital Advisors LLC grew its holdings in shares of AppLovin by 128.9% during the third quarter. Verdence Capital Advisors LLC now owns 11,022 shares of the company's stock worth $1,439,000 after purchasing an additional 6,206 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of AppLovin by 131.8% during the third quarter. Assetmark Inc. now owns 9,637 shares of the company's stock worth $1,258,000 after purchasing an additional 5,480 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Performance

Shares of APP stock opened at $270.48 on Monday. 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 50 day simple moving average of $363.84 and a 200-day simple moving average of $262.97. The company has a market cap of $90.77 billion, a price-to-earnings ratio of 59.58, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 12-month low of $59.30 and a 12-month high of $525.15.

Remove Ads

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 1,676 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now directly owns 3,058,635 shares of the company's stock, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of the business's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the sale, the director now owns 621,209 shares in the company, valued at approximately $204,688,365.50. The trade was a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 406,047 shares of company stock worth $140,390,817 over the last 90 days. Company insiders own 14.69% of the company's stock.

Analyst Ratings Changes

APP has been the subject of a number of research analyst reports. UBS Group upped their target price on AppLovin from $440.00 to $630.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on AppLovin from $325.00 to $475.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Bank of America lifted their target price on shares of AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Wells Fargo & Company set a $538.00 price target on shares of AppLovin and gave the company an "overweight" rating in a research report on Thursday, February 27th. Finally, Arete Research raised shares of AppLovin to a "strong sell" rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $452.29.

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.

Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Co. (NASDAQ:APP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.