AppLovin Co. (NASDAQ:APP) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its stake in shares of AppLovin Co. (NASDAQ:APP) by 103.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,362 shares of the company’s stock after purchasing an additional 20,543 shares during the quarter. Los Angeles Capital Management LLC’s holdings in AppLovin were worth $13,070,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the third quarter worth $25,000. GHP Investment Advisors Inc. purchased a new position in AppLovin during the fourth quarter worth about $25,000. Meeder Asset Management Inc. acquired a new stake in AppLovin in the 3rd quarter worth about $27,000. Hemington Wealth Management grew its holdings in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on APP. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. Loop Capital boosted their price objective on shares of AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Wedbush reiterated an “outperform” rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Jefferies Financial Group boosted their price target on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Oppenheimer reissued an “outperform” rating and issued a $560.00 price objective (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus price target of $442.18.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now owns 405,676 shares of the company’s stock, valued at $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mary Margaret Hasti Georgiadis sold 30,500 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $339.69, for a total transaction of $10,360,545.00. Following the sale, the director now directly owns 154,500 shares in the company, valued at $52,482,105. This trade represents a 16.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,372 shares of company stock worth $92,519,099. 14.69% of the stock is currently owned by corporate insiders.

AppLovin Stock Performance

Shares of APP opened at $331.00 on Thursday. The firm has a market cap of $111.08 billion, a price-to-earnings ratio of 72.91, a PEG ratio of 3.02 and a beta of 2.30. 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 business’s 50 day moving average is $368.06 and its two-hundred day moving average is $250.75. AppLovin Co. has a 52-week low of $57.40 and a 52-week high of $525.15.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results 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%. Analysts forecast that AppLovin Co. will post 6.87 EPS for the current fiscal year.

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.