AppLovin Co. (NASDAQ:APP) Shares Bought by Invesco Ltd.

Invesco Ltd. grew its position in AppLovin Co. (NASDAQ:APP) by 68.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,018,990 shares of the company’s stock after buying an additional 1,222,074 shares during the quarter. Invesco Ltd. owned 0.90% of AppLovin worth $977,639,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in APP. FMR LLC boosted its holdings in shares of AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company’s stock valued at $4,485,409,000 after acquiring an additional 5,957,885 shares during the period. Benchmark Investment Advisors LLC grew its holdings in shares of AppLovin by 2.8% during the fourth quarter. Benchmark Investment Advisors LLC now owns 17,013 shares of the company’s stock worth $5,509,000 after buying an additional 468 shares in the last quarter. Titleist Asset Management LLC acquired a new stake in AppLovin in the 4th quarter worth about $767,000. MIG Capital LLC acquired a new stake in AppLovin during the 4th quarter worth approximately $341,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock worth $170,000 after purchasing an additional 33 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Performance

NASDAQ APP opened at $219.37 on Monday. The company has a 50-day simple moving average of $342.89 and a two-hundred day simple moving average of $289.58. The firm has a market cap of $74.58 billion, a price-to-earnings ratio of 48.32, a PEG ratio of 3.02 and a beta of 2.39. 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 Co. has a 12-month low of $60.67 and a 12-month high of $525.15.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, equities analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock worth $106,401,841 in the last three months. 14.69% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on APP shares. JPMorgan Chase & Co. boosted their price objective on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Monday, March 17th. Jefferies Financial Group boosted their target price on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Arete Research set a $200.00 target price on shares of AppLovin in a report on Wednesday, March 5th. Finally, Wells Fargo & Company set a $538.00 price target on AppLovin and gave the company an “overweight” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus target price of $435.47.

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.