Azzad Asset Management Inc. ADV Invests $359,000 in AppLovin Co. (NASDAQ:APP)

Azzad Asset Management Inc. ADV bought a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,355 shares of the company's stock, valued at approximately $359,000.

A number of other large investors have also recently bought and sold shares of APP. FMR LLC raised its stake in shares of AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after acquiring an additional 5,957,885 shares during the period. SVB Wealth LLC acquired a new stake in AppLovin in the 4th quarter valued at $1,781,922,000. Baillie Gifford & Co. raised its position in AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares during the period. Norges Bank purchased a new position in AppLovin in the fourth quarter valued at about $828,138,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of AppLovin by 457.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock worth $936,888,000 after purchasing an additional 2,373,885 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

AppLovin Stock Performance

Shares of APP stock traded up $6.19 on Monday, hitting $370.68. 3,537,214 shares of the stock traded hands, compared to its average volume of 6,114,590. The company has a market capitalization of $125.43 billion, a PE ratio of 81.65, a PEG ratio of 3.02 and a beta of 2.53. The company's fifty day moving average is $324.29 and its 200 day moving average is $334.22. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. 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 posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm posted $0.67 EPS. The company's revenue for the quarter was up 40.3% on a year-over-year basis. On average, equities research analysts predict that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Jefferies Financial Group raised their target price on AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Citigroup reaffirmed a "buy" rating on shares of AppLovin in a research report on Thursday, May 29th. JPMorgan Chase & Co. boosted their target price on shares of AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Morgan Stanley raised their price target on shares of AppLovin from $420.00 to $460.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Finally, Piper Sandler boosted their price objective on shares of AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $438.10.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Craig Scott Billings sold 12,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $353.12, for a total value of $4,237,440.00. Following the sale, the director now directly owns 2,987 shares of the company's stock, valued at $1,054,769.44. This trade represents a 80.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Stumpf sold 9,714 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $423.00, for a total value of $4,109,022.00. Following the completion of the sale, the chief financial officer now owns 192,421 shares in the company, valued at $81,394,083. The trade was a 4.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,212,968 shares of company stock worth $455,062,980 over the last ninety days. Company insiders own 13.66% of the company's stock.

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.