AppLovin Corporation (NASDAQ:APP) Stock Holdings Lifted by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in AppLovin Corporation by 13.9%, owning approximately 1.13 million shares valued at $300.7 million.
• Analysts have varied opinions on AppLovin's stock, with a consensus rating of "Moderate Buy" and a price target average of $472.33, while noting several recent price target adjustments.
• Insider trading activities included the sale of 200,000 shares by Director Herald Y. Chen, indicating a significant liquidation of holdings valued at nearly $93 million.

American Century Companies Inc. raised its position in AppLovin Corporation (NASDAQ:APP - Free Report) by 13.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,134,842 shares of the company's stock after purchasing an additional 138,063 shares during the quarter. American Century Companies Inc. owned approximately 0.33% of AppLovin worth $300,699,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. purchased a new position in AppLovin in the fourth quarter valued at about $25,000. Atala Financial Inc purchased a new position in AppLovin in the first quarter valued at about $26,000. Alpine Bank Wealth Management purchased a new position in AppLovin in the first quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new position in AppLovin in the first quarter valued at about $29,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in AppLovin in the first quarter valued at about $29,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

Analysts Set New Price Targets

APP has been the subject of several recent analyst reports. Benchmark reiterated a "buy" rating and set a $525.00 price target on shares of AppLovin in a research note on Thursday, May 8th. Morgan Stanley upped their price target on AppLovin from $460.00 to $480.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. UBS Group upped their price target on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Wall Street Zen downgraded AppLovin from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Citigroup reiterated a "buy" rating on shares of AppLovin in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $472.33.

AppLovin Trading Down 2.9%

AppLovin stock opened at $433.34 on Friday. The business has a 50 day moving average price of $370.40 and a two-hundred day moving average price of $342.69. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The stock has a market cap of $146.64 billion, a price-to-earnings ratio of 61.55, a price-to-earnings-growth ratio of 2.50 and a beta of 2.43. AppLovin Corporation has a 12 month low of $82.51 and a 12 month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.05 by $0.21. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%. The company's revenue for the quarter was up 77.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 EPS. As a group, equities analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling

In other news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $464.69, for a total value of $92,938,000.00. Following the completion of the transaction, the director directly owned 381,929 shares of the company's stock, valued at approximately $177,478,587.01. This represents a 34.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eduardo Vivas sold 125,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total value of $58,250,000.00. Following the completion of the transaction, the director directly owned 7,283,292 shares of the company's stock, valued at approximately $3,394,014,072. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 925,398 shares of company stock valued at $392,582,738. 13.66% of the stock is currently owned by corporate insiders.

AppLovin 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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