AppLovin Co. (NASDAQ:APP) Shares Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc increased its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 193.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,068 shares of the company's stock after buying an additional 159,679 shares during the period. Ensign Peak Advisors Inc owned 0.07% of AppLovin worth $78,389,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of APP. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of AppLovin during the fourth quarter valued at approximately $25,000. GHP Investment Advisors Inc. purchased a new stake in AppLovin in the fourth quarter worth approximately $25,000. Riverview Trust Co boosted its holdings in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after purchasing an additional 82 shares during the last quarter. Tucker Asset Management LLC purchased a new stake in AppLovin in the fourth quarter worth approximately $28,000. Finally, Hemington Wealth Management boosted its holdings in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after purchasing an additional 40 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Up 5.9%

Shares of NASDAQ:APP traded up $19.36 during trading hours on Monday, hitting $347.90. The company's stock had a trading volume of 7,818,944 shares, compared to its average volume of 6,004,245. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market capitalization of $118.27 billion, a price-to-earnings ratio of 76.63, a P/E/G ratio of 3.02 and a beta of 2.39. The firm's fifty day moving average price is $275.55 and its 200 day moving average price is $312.65. 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 issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. AppLovin's revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 EPS. As a group, research analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now directly owns 621,209 shares of the company's stock, valued at approximately $201,675,501.85. This trade represents a 24.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock valued at $106,401,841 over the last ninety days. Corporate insiders own 14.69% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on APP. Morgan Stanley increased their price target on shares of AppLovin from $350.00 to $420.00 and gave the stock an "overweight" rating in a research report on Thursday. Loop Capital restated a "buy" rating and set a $650.00 price objective on shares of AppLovin in a research report on Friday, March 28th. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. Citigroup raised their price objective on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Finally, Bank of America raised their price objective on shares of AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.