Mandatum Life Insurance Co Ltd acquired a new stake in AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,330 shares of the company's stock, valued at approximately $431,000.
A number of other hedge funds have also modified their holdings of APP. FMR LLC increased its holdings in shares of 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 during the period. Fred Alger Management LLC acquired a new position in shares of AppLovin in the second quarter valued at about $290,655,000. 1832 Asset Management L.P. grew its holdings in AppLovin by 977.2% during the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company's stock worth $124,522,000 after acquiring an additional 1,357,400 shares during the period. WCM Investment Management LLC grew its holdings in AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company's stock worth $1,382,307,000 after acquiring an additional 1,029,009 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in AppLovin by 31.3% during the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company's stock worth $306,897,000 after acquiring an additional 560,560 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.
AppLovin Stock Up 3.1 %
APP traded up $10.33 on Monday, hitting $342.34. 4,173,415 shares of the company were exchanged, compared to its average volume of 3,899,418. AppLovin Co. has a twelve month low of $40.71 and a twelve month high of $417.64. The company has a market cap of $114.89 billion, a price-to-earnings ratio of 103.74, a price-to-earnings-growth ratio of 2.68 and a beta of 2.29. 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 firm has a 50-day moving average price of $330.75 and a two-hundred day moving average price of $189.78.
AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. AppLovin's revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 EPS. On average, equities analysts predict that AppLovin Co. will post 4.06 earnings per share for the current year.
Insider Activity
In related news, insider Victoria Valenzuela sold 15,971 shares of the business's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. The trade was a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Herald Y. Chen sold 400 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the transaction, the chief financial officer now owns 207,649 shares in the company, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 888,867 shares of company stock valued at $284,773,062. Insiders own 14.69% of the company's stock.
Analyst Upgrades and Downgrades
APP has been the topic of several analyst reports. Daiwa America raised AppLovin from a "hold" rating to a "strong-buy" rating in a report on Friday, November 8th. Piper Sandler began coverage on AppLovin in a research report on Wednesday, November 20th. They set an "overweight" rating and a $400.00 price target on the stock. The Goldman Sachs Group downgraded AppLovin from a "buy" rating to a "neutral" rating and increased their price target for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. Macquarie increased their price target on AppLovin from $270.00 to $450.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and an average target price of $338.06.
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AppLovin Company 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.
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