Neuberger Berman Group LLC Buys 154,241 Shares of AppLovin Co. (NASDAQ:APP)

Neuberger Berman Group LLC boosted its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 60.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,545 shares of the company's stock after acquiring an additional 154,241 shares during the quarter. Neuberger Berman Group LLC owned 0.12% of AppLovin worth $132,947,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in APP. GHP Investment Advisors Inc. bought a new stake in AppLovin during the 4th quarter worth approximately $25,000. Riverview Trust Co boosted its stake in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after purchasing an additional 82 shares in the last quarter. Tucker Asset Management LLC bought a new stake in shares of AppLovin during the fourth quarter worth $28,000. Hemington Wealth Management raised its holdings in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after buying an additional 40 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company's stock valued at $32,000 after buying an additional 62 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of the business's 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 completion of the sale, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 44,400 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the transaction, the chief executive officer now owns 2,869,492 shares in the company, valued at approximately $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on APP shares. Morgan Stanley upgraded shares of AppLovin from an "equal weight" rating to an "overweight" rating and lowered their price objective for the company from $470.00 to $350.00 in a research report on Thursday. Arete Research set a $200.00 price target on AppLovin in a research note on Wednesday, March 5th. Jefferies Financial Group lifted their price objective on AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Oppenheimer restated an "outperform" rating and set a $560.00 price objective on shares of AppLovin in a report on Thursday, March 27th. Finally, Loop Capital reiterated a "buy" rating and set a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $424.84.

AppLovin Stock Performance

APP stock traded down $9.65 during trading hours on Monday, reaching $240.30. The stock had a trading volume of 3,773,815 shares, compared to its average volume of 5,756,622. The stock has a market capitalization of $81.69 billion, a PE ratio of 52.93, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The stock has a 50-day simple moving average of $327.20 and a 200 day simple moving average of $294.56. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Analysts predict that AppLovin Co. will post 6.87 EPS for the current fiscal 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.