Capital Research Global Investors Buys 174,338 Shares of AppLovin Corporation $APP

Capital Research Global Investors grew its stake in AppLovin Corporation (NASDAQ:APP - Free Report) by 16.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,209,631 shares of the company's stock after acquiring an additional 174,338 shares during the quarter. Capital Research Global Investors owned 0.36% of AppLovin worth $815,105,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Capital International Investors boosted its holdings in AppLovin by 20.2% in the fourth quarter. Capital International Investors now owns 981,214 shares of the company's stock worth $661,225,000 after acquiring an additional 164,653 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in AppLovin by 7.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 153,800 shares of the company's stock worth $95,451,000 after acquiring an additional 11,122 shares in the last quarter. Telemark Asset Management LLC bought a new stake in AppLovin in the fourth quarter worth $13,476,000. DB&C Advisors LLC bought a new stake in AppLovin in the fourth quarter worth $1,676,000. Finally, XML Financial LLC boosted its holdings in AppLovin by 76.7% in the fourth quarter. XML Financial LLC now owns 698 shares of the company's stock worth $470,000 after acquiring an additional 303 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on APP. Needham & Company LLC reissued a "buy" rating and issued a $700.00 target price on shares of AppLovin in a report on Thursday, May 28th. Citigroup reissued a "buy" rating and issued a $710.00 target price on shares of AppLovin in a report on Monday, June 1st. Royal Bank Of Canada reissued an "outperform" rating and issued a $700.00 target price on shares of AppLovin in a report on Thursday, February 12th. UBS Group lowered their price target on AppLovin from $740.00 to $716.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. Finally, Wells Fargo & Company upped their price target on AppLovin from $560.00 to $571.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and an average price target of $664.35.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $557.20 on Monday. The company has a market cap of $187.19 billion, a P/E ratio of 47.87, a PEG ratio of 0.91 and a beta of 2.45. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. AppLovin Corporation has a 1 year low of $320.00 and a 1 year high of $745.61. The stock's fifty day moving average price is $470.43 and its 200-day moving average price is $521.30.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.44 by $0.12. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The company's quarterly revenue was up 58.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.67 earnings per share. Sell-side analysts expect that AppLovin Corporation will post 15.86 earnings per share for the current year.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 40,704 shares of the company's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the completion of the sale, the chief executive officer owned 2,430,414 shares in the company, valued at approximately $1,117,625,877.90. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eduardo Vivas sold 163,910 shares of the company's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the sale, the director owned 6,969,382 shares of the company's stock, valued at approximately $3,160,545,043.18. This trade represents a 2.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 467,092 shares of company stock valued at $220,268,340 in the last 90 days. 13.66% of the stock is owned by company insiders.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin's technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin's offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.

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