Circle Wealth Management LLC boosted its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 102.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,592 shares of the company's stock after acquiring an additional 2,326 shares during the quarter. Circle Wealth Management LLC's holdings in AppLovin were worth $1,487,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of AppLovin by 92.5% in the third 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 period. Nordea Investment Management AB boosted its position in AppLovin by 58.1% in the 4th quarter. Nordea Investment Management AB now owns 138,619 shares of the company's stock valued at $44,901,000 after buying an additional 50,928 shares during the period. Diversified Trust Co grew its stake in shares of AppLovin by 27.1% in the fourth quarter. Diversified Trust Co now owns 5,034 shares of the company's stock worth $1,630,000 after acquiring an additional 1,072 shares in the last quarter. Fulton Bank N.A. increased its position in shares of AppLovin by 12.1% during the fourth quarter. Fulton Bank N.A. now owns 8,429 shares of the company's stock worth $2,730,000 after acquiring an additional 908 shares during the period. Finally, Chicago Capital LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at $323,000. 41.85% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have issued reports on APP. UBS Group reduced their price target on AppLovin from $630.00 to $450.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Morgan Stanley raised shares of AppLovin from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $470.00 to $350.00 in a report on Thursday, April 10th. JPMorgan Chase & Co. lowered their price target on shares of AppLovin from $475.00 to $270.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a report on Monday, April 21st. Finally, The Goldman Sachs Group lowered their target price on shares of AppLovin from $500.00 to $335.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $415.15.
Read Our Latest Stock Report on AppLovin
Insider Activity
In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction that occurred 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 directly owns 88,389 shares of the company's stock, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the company's stock in a transaction dated Friday, February 21st. The shares were 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 owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 306,900 shares of company stock valued at $106,401,841. Insiders own 14.69% of the company's stock.
AppLovin Stock Performance
APP opened at $303.46 on Thursday. 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 $103.16 billion, a PE ratio of 66.84, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The business has a fifty day simple moving average of $275.48 and a 200 day simple moving average of $308.12. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15.
AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the company posted $0.67 EPS. The company's revenue was up 40.3% compared to the same quarter last year. Research analysts expect that AppLovin Co. will post 6.87 EPS for the current year.
AppLovin Company Profile
(
Free Report)
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.
Further Reading
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