Ascent Group LLC Has $1.80 Million Stake in AppLovin Co. (NASDAQ:APP)

Ascent Group LLC grew its position in AppLovin Co. (NASDAQ:APP - Free Report) by 34.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,553 shares of the company's stock after acquiring an additional 1,416 shares during the quarter. Ascent Group LLC's holdings in AppLovin were worth $1,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC increased its stake in AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after acquiring an additional 5,957,885 shares during the last quarter. SVB Wealth LLC purchased a new stake in AppLovin during the 4th quarter valued at $1,781,922,000. Geode Capital Management LLC raised its holdings in AppLovin by 14.5% during the 4th quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock valued at $1,462,144,000 after buying an additional 573,310 shares during the period. Baillie Gifford & Co. raised its holdings in AppLovin by 5,421.4% during the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after buying an additional 4,010,520 shares during the period. Finally, Invesco Ltd. raised its holdings in AppLovin by 68.0% during the 4th quarter. Invesco Ltd. now owns 3,018,990 shares of the company's stock valued at $977,639,000 after buying an additional 1,222,074 shares during the period. Institutional investors own 41.85% of the company's stock.

AppLovin Trading Up 7.5%

Shares of NASDAQ APP traded up $26.62 during midday trading on Tuesday, hitting $380.91. The stock had a trading volume of 7,674,411 shares, compared to its average volume of 6,062,350. The company has a fifty day moving average price of $293.78 and a 200 day moving average price of $326.23. The company has a market capitalization of $128.89 billion, a price-to-earnings ratio of 83.90, 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 1-year low of $60.67 and a 1-year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last announced its 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. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the company posted $0.67 EPS. AppLovin's quarterly revenue was up 40.3% on a year-over-year basis. On average, analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on APP. Morgan Stanley increased their price target on AppLovin from $350.00 to $420.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. The Goldman Sachs Group increased their price target on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a report on Friday, May 9th. HSBC set a $436.00 price target on AppLovin and gave the company a "buy" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their price objective on AppLovin from $270.00 to $355.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, Benchmark restated a "buy" rating and set a $525.00 price objective on shares of AppLovin in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $433.85.

Insider Transactions at AppLovin

In related news, CEO Arash Adam Foroughi sold 33,700 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $365.54, for a total transaction of $12,318,698.00. Following the completion of the sale, the chief executive officer now owns 2,760,363 shares in the company, valued at $1,009,023,091.02. This represents a 1.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 6,599 shares of AppLovin stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $369.35, for a total value of $2,437,340.65. Following the transaction, the insider now directly owns 344,256 shares of the company's stock, valued at approximately $127,150,953.60. The trade was a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,233,254 shares of company stock valued at $446,927,149. 14.69% 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.