1,070 Shares in AppLovin Co. (NASDAQ:APP) Bought by Pinkerton Retirement Specialists LLC

Pinkerton Retirement Specialists LLC bought a new stake in AppLovin Co. (NASDAQ:APP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,070 shares of the company's stock, valued at approximately $346,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APP. FMR LLC increased its position in 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 buying an additional 5,957,885 shares in the last quarter. SVB Wealth LLC acquired a new position in AppLovin during the 4th quarter valued at about $1,781,922,000. Baillie Gifford & Co. boosted its stake 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 purchasing an additional 4,010,520 shares during the last quarter. Norges Bank acquired a new position in AppLovin during the 4th quarter valued at about $828,138,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in AppLovin by 457.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock valued at $936,888,000 after purchasing an additional 2,373,885 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on APP shares. UBS Group lifted their price target on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Citigroup lifted their price target on AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Bank of America boosted their target price on AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Jefferies Financial Group boosted their target price on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Arete Research set a $200.00 target price on AppLovin in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $433.85.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 6,599 shares of the company's 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 owns 344,256 shares of the company's stock, valued at approximately $127,150,953.60. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Arash Adam Foroughi sold 44,400 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the transaction, the chief executive officer now directly owns 2,869,492 shares in the company, valued at approximately $1,179,045,567.88. The trade was a 1.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,277,654 shares of company stock valued at $465,170,665 in the last 90 days. 14.69% of the stock is currently owned by company insiders.

AppLovin Stock Performance

Shares of NASDAQ:APP traded up $2.82 during mid-day trading on Friday, reaching $354.29. The company had a trading volume of 5,314,732 shares, compared to its average volume of 6,051,823. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market cap of $119.89 billion, a price-to-earnings ratio of 78.04, a PEG ratio of 3.02 and a beta of 2.39. The company's 50-day moving average price is $292.64 and its 200-day moving average price is $324.15. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last issued 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 net margin of 33.54% and a return on equity of 188.55%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The business's revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, equities research analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

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.