Lingohr Asset Management GmbH cut its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 81.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,135 shares of the company's stock after selling 9,202 shares during the quarter. AppLovin accounts for 1.5% of Lingohr Asset Management GmbH's holdings, making the stock its 24th biggest position. Lingohr Asset Management GmbH's holdings in AppLovin were worth $716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of APP. FMR LLC increased its stake in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company's stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $1,781,922,000. State Street Corp increased its position in shares of AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company's stock valued at $703,406,000 after buying an additional 428,419 shares in the last quarter. Baillie Gifford & Co. raised its stake in AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock worth $1,322,682,000 after buying an additional 4,010,520 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in AppLovin by 12.8% during the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company's stock worth $514,418,000 after acquiring an additional 449,241 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Loop Capital raised their price target on AppLovin from $450.00 to $650.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Arete Research set a $200.00 target price on shares of AppLovin in a report on Wednesday, March 5th. Oppenheimer reiterated an "outperform" rating and issued a $560.00 price target (up previously from $480.00) on shares of AppLovin in a report on Thursday, February 13th. Macquarie raised their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Finally, The Goldman Sachs Group upped their target price on shares of AppLovin from $220.00 to $335.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin currently has a consensus rating of "Moderate Buy" and a consensus target price of $438.28.
View Our Latest Analysis on APP
Insiders Place Their Bets
In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction on 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 of the company's stock, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock valued at $106,401,841 over the last 90 days. 14.69% of the stock is currently owned by insiders.
AppLovin Stock Up 8.2 %
Shares of NASDAQ APP traded up $25.69 during trading hours on Monday, hitting $339.72. The company had a trading volume of 9,111,745 shares, compared to its average volume of 5,260,623. The stock has a market capitalization of $115.49 billion, a P/E ratio of 74.83, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The firm's 50 day moving average is $354.31 and its 200-day moving average is $278.37. 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 announced its quarterly earnings data 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 expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.
AppLovin Profile
(
Free Report)
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.
Further Reading
Before you consider AppLovin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AppLovin wasn't on the list.
While AppLovin currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
