Caprock Group LLC Acquires 12,500 Shares of AppLovin Co. (NASDAQ:APP)

Caprock Group LLC boosted its position in AppLovin Co. (NASDAQ:APP) by 42.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 42,146 shares of the company’s stock after acquiring an additional 12,500 shares during the period. Caprock Group LLC’s holdings in AppLovin were worth $13,648,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alta Wealth Advisors LLC raised its stake in AppLovin by 17.8% in the 4th quarter. Alta Wealth Advisors LLC now owns 1,823 shares of the company’s stock valued at $590,000 after acquiring an additional 276 shares during the period. Oak Harvest Investment Services bought a new stake in shares of AppLovin during the fourth quarter valued at about $648,000. Baron Wealth Management LLC bought a new stake in shares of AppLovin during the fourth quarter valued at about $448,000. Swedbank AB increased its position in shares of AppLovin by 13.7% during the fourth quarter. Swedbank AB now owns 109,708 shares of the company’s stock valued at $35,527,000 after buying an additional 13,253 shares during the period. Finally, BOCHK Asset Management Ltd bought a new stake in shares of AppLovin during the fourth quarter valued at about $25,055,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Stock Performance

Shares of APP stock opened at $374.78 on Friday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a fifty-two week low of $40.71 and a fifty-two week high of $417.64. The stock has a 50 day moving average price of $340.85 and a two-hundred day moving average price of $205.26. The company has a market capitalization of $125.77 billion, a P/E ratio of 113.60, a PEG ratio of 2.97 and a beta of 2.29.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. Analysts expect that AppLovin Co. will post 4.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the sale, the insider now directly owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Herald Y. Chen sold 99,000 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at approximately $204,688,365.50. This represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Bank of America upped their price target on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Citigroup boosted their price objective on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. UBS Group boosted their price objective on AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group boosted their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Macquarie boosted their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $366.29.

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.