Ossiam Increases Stock Position in AppLovin Co. (NASDAQ:APP)

Ossiam grew its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 365.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,421 shares of the company's stock after acquiring an additional 5,826 shares during the quarter. Ossiam's holdings in AppLovin were worth $2,403,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of APP. FMR LLC increased its holdings in AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after buying an additional 5,957,885 shares during the period. SVB Wealth LLC purchased a new position in shares of AppLovin during the fourth quarter worth $1,781,922,000. Geode Capital Management LLC boosted its holdings in AppLovin by 14.5% in the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock valued at $1,462,144,000 after purchasing an additional 573,310 shares during the last quarter. Baillie Gifford & Co. grew its position 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 purchasing an additional 4,010,520 shares during the period. Finally, Invesco Ltd. raised its stake in shares of AppLovin by 68.0% during the 4th quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock valued at $977,639,000 after buying an additional 1,222,074 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Trading Up 6.1 %

Shares of NASDAQ APP traded up $14.57 during midday trading on Wednesday, reaching $252.28. 7,286,784 shares of the stock were exchanged, compared to its average volume of 5,852,873. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The stock has a market capitalization of $85.76 billion, a P/E ratio of 55.57, a PEG ratio of 3.02 and a beta of 2.39. The company has a 50 day simple moving average of $305.55 and a 200 day simple moving average of $298.48. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results 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%. As a group, equities analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the 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 completion of 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 trade represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now directly owns 88,389 shares of the company's stock, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 306,900 shares of company stock worth $106,401,841. Company insiders own 14.69% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on APP. Citigroup upped their price objective on AppLovin from $460.00 to $600.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Loop Capital reiterated a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a research report on Friday, March 28th. UBS Group decreased their target price on AppLovin from $630.00 to $450.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Bank of America increased their target price on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, FBN Securities assumed coverage on AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AppLovin has an average rating of "Moderate Buy" and a consensus target price of $414.05.

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.