Stifel Financial Corp Raises Stock Position in AppLovin Co. (NASDAQ:APP)

Stifel Financial Corp raised its stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,253 shares of the company's stock after purchasing an additional 2,752 shares during the period. Stifel Financial Corp's holdings in AppLovin were worth $38,941,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. FMR LLC lifted its holdings in AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after purchasing an additional 5,957,885 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at about $1,781,922,000. Geode Capital Management LLC boosted its position in AppLovin by 14.5% during the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock worth $1,462,144,000 after acquiring an additional 573,310 shares during the last quarter. Baillie Gifford & Co. grew its stake in AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after acquiring an additional 4,010,520 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in AppLovin by 68.0% in the 4th quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock valued at $977,639,000 after acquiring an additional 1,222,074 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Analysts Set New Price Targets

APP has been the topic of several recent research reports. Benchmark boosted their target price on AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research note on Monday. Morgan Stanley raised AppLovin from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $470.00 to $350.00 in a research note on Thursday, April 10th. Oppenheimer reiterated an "outperform" rating and set a $560.00 price target on shares of AppLovin in a report on Thursday, March 27th. Finally, Loop Capital reissued a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $414.05.

AppLovin Stock Performance

Shares of AppLovin stock opened at $252.28 on Thursday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock 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. The business has a 50-day moving average of $300.39 and a 200 day moving average of $298.16. AppLovin Co. has a 12 month low of $60.67 and a 12 month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, sell-side analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, 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 position. The transaction 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 AppLovin stock in a transaction on 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 sale, the chief executive officer now directly 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 ownership of the stock. 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 90 days. Company insiders own 14.69% of the company's stock.

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.

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