Shelton Capital Management Has $14.97 Million Stake in AppLovin Co. (NASDAQ:APP)

Shelton Capital Management increased its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 162.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,237 shares of the company's stock after purchasing an additional 28,637 shares during the quarter. Shelton Capital Management's holdings in AppLovin were worth $14,973,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Benjamin Edwards Inc. bought a new position in shares of AppLovin in the third quarter worth approximately $364,000. IHT Wealth Management LLC bought a new stake in shares of AppLovin during the 3rd quarter worth $316,000. Quantinno Capital Management LP lifted its holdings in shares of AppLovin by 146.6% during the 3rd quarter. Quantinno Capital Management LP now owns 6,412 shares of the company's stock worth $837,000 after acquiring an additional 3,812 shares during the last quarter. Stifel Financial Corp grew its position in AppLovin by 5.6% in the third quarter. Stifel Financial Corp now owns 117,501 shares of the company's stock worth $15,340,000 after acquiring an additional 6,188 shares in the last quarter. Finally, State Street Corp increased its stake in AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company's stock valued at $703,406,000 after acquiring an additional 428,419 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction that occurred 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 transaction, the chief technology officer now owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock valued at $106,401,841 in the last three months. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Trading Down 5.3 %

Shares of AppLovin stock traded down $13.88 during mid-day trading on Friday, hitting $249.95. 8,949,643 shares of the stock were exchanged, compared to its average volume of 5,751,052. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a 50-day simple moving average of $327.20 and a 200 day simple moving average of $293.41. The stock has a market capitalization of $84.97 billion, a price-to-earnings ratio of 55.06, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly 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 net margin of 33.54% and a return on equity of 188.55%. Research analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Benchmark boosted their target price on AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. upped their price objective on shares of AppLovin from $325.00 to $475.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. The Goldman Sachs Group lifted their target price on shares of AppLovin from $220.00 to $335.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Loop Capital restated a "buy" rating and set a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. Finally, Arete Research set a $200.00 price objective on AppLovin in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $424.84.

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.