Veracity Capital LLC Has $1.12 Million Holdings in AppLovin Co. (NASDAQ:APP)

Veracity Capital LLC grew its holdings in shares of AppLovin Co. (NASDAQ:APP) by 94.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,451 shares of the company’s stock after acquiring an additional 1,675 shares during the quarter. Veracity Capital LLC’s holdings in AppLovin were worth $1,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV lifted its stake in AppLovin by 13.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,352 shares of the company’s stock valued at $933,000 after purchasing an additional 1,355 shares during the last quarter. Amalgamated Bank lifted its stake in shares of AppLovin by 44.9% in the 2nd quarter. Amalgamated Bank now owns 17,725 shares of the company’s stock valued at $1,475,000 after acquiring an additional 5,490 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of AppLovin by 87.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,529 shares of the company’s stock valued at $127,000 after acquiring an additional 715 shares in the last quarter. Canada Pension Plan Investment Board grew its position in AppLovin by 38.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 31,400 shares of the company’s stock worth $2,613,000 after acquiring an additional 8,700 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings in AppLovin by 17.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 70,939 shares of the company’s stock worth $5,904,000 after purchasing an additional 10,700 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the transaction, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock valued at $284,773,062 over the last three months. Corporate insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of APP opened at $362.52 on Friday. The stock has a 50-day moving average of $335.97 and a 200-day moving average of $195.69. AppLovin Co. has a one year low of $40.71 and a one year high of $417.64. 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 company has a market cap of $121.66 billion, a PE ratio of 109.85, a P/E/G ratio of 2.77 and a beta of 2.29.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 38.6% on a year-over-year basis. On average, equities research analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Jefferies Financial Group boosted their price target on AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Loop Capital boosted their target price on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Stifel Nicolaus raised their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Citigroup lifted their price target on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Macquarie increased their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $355.41.

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.