338,942 Shares in AppLovin Co. (NASDAQ:APP) Purchased by ProShare Advisors LLC

ProShare Advisors LLC purchased a new position in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 338,942 shares of the company's stock, valued at approximately $109,760,000. ProShare Advisors LLC owned about 0.10% of AppLovin at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Oxinas Partners Wealth Management LLC acquired a new position in AppLovin in the 4th quarter valued at about $1,081,000. Barclays PLC boosted its holdings in AppLovin by 92.5% in the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after purchasing an additional 153,248 shares during the last quarter. Tcfg Wealth Management LLC acquired a new position in AppLovin in the 4th quarter valued at about $369,000. Caprock Group LLC boosted its holdings in AppLovin by 42.2% in the 4th quarter. Caprock Group LLC now owns 42,146 shares of the company's stock valued at $13,648,000 after purchasing an additional 12,500 shares during the last quarter. Finally, Aaron Wealth Advisors LLC acquired a new position in AppLovin in the 4th quarter valued at about $382,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 570 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $371.12, for a total transaction of $211,538.40. Following the transaction, the director now directly owns 6,231 shares of the company's stock, valued at approximately $2,312,448.72. This trade represents a 8.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. The trade was a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,119,470 shares of company stock valued at $409,752,180 in the last ninety days. Insiders own 14.69% of the company's stock.

AppLovin Trading Down 2.6%

Shares of NASDAQ:APP opened at $366.61 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company's 50 day moving average is $283.05 and its two-hundred day moving average is $316.16. The company has a market cap of $124.63 billion, a PE ratio of 80.75, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The company's revenue was up 40.3% on a year-over-year basis. During the same period last year, the firm posted $0.67 EPS. Equities analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on APP shares. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Monday, April 21st. Wells Fargo & Company upped their price objective on shares of AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Loop Capital restated a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. HSBC set a $436.00 price objective on shares of AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, Bank of America upped their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $433.85.

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.

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