World Investment Advisors Takes $847,000 Position in AppLovin Co. (NASDAQ:APP)

World Investment Advisors purchased a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,615 shares of the company's stock, valued at approximately $847,000.

Other hedge funds have also modified their holdings of the company. Benjamin Edwards Inc. acquired a new position in shares of AppLovin in the 3rd quarter valued at $364,000. IHT Wealth Management LLC acquired a new position in shares of AppLovin in the 3rd quarter worth approximately $316,000. Royal London Asset Management Ltd. purchased a new position in shares of AppLovin during the 3rd quarter worth approximately $13,052,000. Quantinno Capital Management LP increased its holdings in AppLovin by 146.6% in the 3rd quarter. Quantinno Capital Management LP now owns 6,412 shares of the company's stock valued at $837,000 after purchasing an additional 3,812 shares during the last quarter. Finally, Stifel Financial Corp raised its position in AppLovin by 5.6% in the third quarter. Stifel Financial Corp now owns 117,501 shares of the company's stock valued at $15,340,000 after purchasing an additional 6,188 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Trading Down 6.6 %

Shares of NASDAQ APP traded down $18.28 on Thursday, reaching $256.68. 4,982,856 shares of the company traded hands, compared to its average volume of 5,695,616. The company has a 50 day moving average of $331.84 and a 200 day moving average of $291.64. 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 Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The stock has a market capitalization of $87.26 billion, a PE ratio of 56.14, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last announced 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 net margin of 33.54% and a return on equity of 188.55%. On average, equities research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on APP shares. Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th. Loop Capital reiterated a "buy" rating and set a $650.00 price target on shares of AppLovin in a research note on Friday, March 28th. Jefferies Financial Group lifted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. The Goldman Sachs Group increased their target price on shares of AppLovin from $220.00 to $335.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Finally, Bank of America boosted their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. One research 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $434.32.

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of 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 document filed with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 306,900 shares of company stock valued at $106,401,841. 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.