2,598 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Argentarii LLC

Argentarii LLC acquired a new position in shares of AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,598 shares of the company’s stock, valued at approximately $841,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Amundi increased its position in shares of AppLovin by 67.1% during the 4th quarter. Amundi now owns 603,766 shares of the company’s stock worth $198,760,000 after purchasing an additional 242,539 shares during the last quarter. PNC Financial Services Group Inc. grew its position in AppLovin by 6.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,182 shares of the company’s stock valued at $2,650,000 after acquiring an additional 464 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in AppLovin in the 4th quarter valued at about $12,118,000. Machina Capital S.A.S. acquired a new position in AppLovin in the 4th quarter valued at about $227,000. Finally, Aviance Capital Partners LLC grew its position in AppLovin by 28.7% in the 4th quarter. Aviance Capital Partners LLC now owns 2,573 shares of the company’s stock valued at $833,000 after acquiring an additional 573 shares in the last quarter. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Price Performance

APP stock opened at $270.48 on Friday. The business has a 50 day moving average price of $363.84 and a 200 day moving average price of $261.76. The stock has a market cap of $90.77 billion, a price-to-earnings ratio of 59.58, a PEG ratio of 3.02 and a beta of 2.33. AppLovin Co. has a fifty-two week low of $59.30 and a fifty-two week 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.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, CFO Herald Y. Chen sold 400 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the transaction, the chief financial officer now owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. The trade was a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the transaction, the insider now directly owns 372,205 shares in the company, 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. Over the last quarter, insiders sold 406,447 shares of company stock worth $140,537,281. 14.69% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stifel Nicolaus lifted their target price on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Macquarie lifted their target price on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, UBS Group lifted their price objective on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $452.29.

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.