Voya Investment Management LLC Purchases 154,954 Shares of AppLovin Co. (NASDAQ:APP)

Voya Investment Management LLC grew its position in AppLovin Co. (NASDAQ:APP - Free Report) by 28.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 694,264 shares of the company's stock after acquiring an additional 154,954 shares during the period. Voya Investment Management LLC owned about 0.21% of AppLovin worth $224,823,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC grew its holdings in AppLovin by 75.5% during the fourth quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after purchasing an additional 5,957,885 shares during the period. SVB Wealth LLC bought a new position in shares of AppLovin during the 4th quarter worth approximately $1,781,922,000. Geode Capital Management LLC increased its holdings in shares of AppLovin by 14.5% during the 4th 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. raised its stake in AppLovin by 5,421.4% in 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 during the period. Finally, Invesco Ltd. boosted its position in AppLovin by 68.0% during the fourth quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock worth $977,639,000 after purchasing an additional 1,222,074 shares during the period. Institutional investors own 41.85% of the company's stock.

Insider Transactions at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the transaction, the director now owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction 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 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 sold 306,900 shares of company stock valued at $106,401,841. Corporate insiders own 14.69% of the company's stock.

AppLovin Stock Performance

NASDAQ:APP opened at $252.28 on Thursday. The stock's 50-day simple moving average is $300.39 and its 200 day simple moving average is $298.16. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $85.76 billion, a PE 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 quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on APP. Jefferies Financial Group raised their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Bank of America raised their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Arete Research set a $200.00 target price on AppLovin in a research report on Wednesday, March 5th. FBN Securities started coverage on AppLovin in a research note on Friday, March 28th. They issued an "outperform" rating and a $385.00 price target for the company. Finally, Benchmark increased their price objective on AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. One investment 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. According to MarketBeat, AppLovin currently has a consensus rating of "Moderate Buy" and an average price target of $414.05.

AppLovin Company 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.

Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Co. (NASDAQ:APP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.