Xponance Inc. Raises Holdings in AppLovin Co. (NASDAQ:APP)

Xponance Inc. lifted its stake in AppLovin Co. (NASDAQ:APP) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,224 shares of the company’s stock after buying an additional 3,205 shares during the quarter. Xponance Inc.’s holdings in AppLovin were worth $15,293,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Intech Investment Management LLC raised its holdings in AppLovin by 209.9% in the 4th quarter. Intech Investment Management LLC now owns 67,945 shares of the company’s stock worth $22,003,000 after purchasing an additional 46,020 shares during the period. PDS Planning Inc acquired a new position in AppLovin in the 4th quarter worth about $342,000. Primecap Management Co. CA acquired a new position in AppLovin in the 4th quarter worth about $112,725,000. Axxcess Wealth Management LLC raised its holdings in AppLovin by 30.1% in the 4th quarter. Axxcess Wealth Management LLC now owns 5,694 shares of the company’s stock worth $1,844,000 after purchasing an additional 1,316 shares during the period. Finally, Cozad Asset Management Inc. raised its holdings in AppLovin by 342.1% in the 4th quarter. Cozad Asset Management Inc. now owns 37,096 shares of the company’s stock worth $12,013,000 after purchasing an additional 28,706 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In other news, CEO Arash Adam Foroughi sold 44,400 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the transaction, the chief executive officer now directly owns 2,869,492 shares in the company, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 322,871 shares of company stock worth $111,401,882. Company insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Macquarie upped their price target on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Benchmark increased their target price on AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. The Goldman Sachs Group increased their target price on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. JPMorgan Chase & Co. increased their target price on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Stifel Nicolaus increased their target price on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $438.28.

AppLovin Trading Down 9.1 %

Shares of AppLovin stock opened at $278.84 on Wednesday. The firm has a market capitalization of $94.79 billion, a price-to-earnings ratio of 61.42, a PEG ratio of 3.02 and a beta of 2.33. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a 50 day moving average of $355.01 and a 200 day moving average of $272.03.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data 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%. As a group, research analysts predict that AppLovin Co. will post 6.87 earnings per share for the current 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.