Norinchukin Bank The Invests $968,000 in AppLovin Co. (NASDAQ:APP)

Norinchukin Bank The bought a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,989 shares of the company's stock, valued at approximately $968,000.

Other large investors also recently made changes to their positions in the company. GHP Investment Advisors Inc. acquired a new position in AppLovin in the 4th quarter valued at approximately $25,000. Riverview Trust Co grew its holdings in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. Tucker Asset Management LLC acquired a new position in shares of AppLovin in the fourth quarter worth $28,000. Hemington Wealth Management boosted its position in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in 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 purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on APP shares. Bank of America lifted their price target on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a report on Thursday, February 13th. FBN Securities started coverage on shares of AppLovin in a research report on Friday, March 28th. They issued an "outperform" rating and a $385.00 target price for the company. Loop Capital reaffirmed a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a research note on Friday, March 28th. Benchmark increased their price target on AppLovin from $375.00 to $525.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Citigroup increased their target price on AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $414.05.

Insider Transactions at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 2,914,492 shares of the company's stock, valued at approximately $1,230,527,667.32. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 in the last quarter. 14.69% of the stock is owned by company insiders.

AppLovin Price Performance

Shares of AppLovin stock traded up $14.57 during midday trading on Wednesday, reaching $252.28. The company had a trading volume of 7,294,652 shares, compared to its average volume of 5,866,223. 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 fifty day simple moving average of $305.55 and a 200 day simple moving average of $298.48. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. The company has a market capitalization of $85.76 billion, a price-to-earnings ratio of 55.57, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share 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%. As a group, equities research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

AppLovin 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.