Royal Bank of Canada Has $288.34 Million Holdings in AppLovin Co. (NASDAQ:APP)

Royal Bank of Canada increased its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 130.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 890,396 shares of the company's stock after acquiring an additional 503,956 shares during the quarter. Royal Bank of Canada owned 0.27% of AppLovin worth $288,337,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. FMR LLC grew its position in AppLovin by 75.5% in the fourth 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 in the last quarter. SVB Wealth LLC bought a new stake in shares of AppLovin during the 4th quarter worth $1,781,922,000. Baillie Gifford & Co. boosted its holdings in AppLovin by 5,421.4% in 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 period. Norges Bank bought a new stake in AppLovin in the 4th quarter valued at $828,138,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in AppLovin by 457.2% in 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 period. Institutional investors and hedge funds own 41.85% of the company's stock.

Insider Buying and Selling

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,119,470 shares of company stock worth $409,752,180. Insiders own 14.69% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on APP. HSBC set a $436.00 price target on shares of AppLovin and gave the company a "buy" rating in a report on Wednesday, April 23rd. Wells Fargo & Company increased their price target on shares of AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Bank of America increased their price target on shares of AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Jefferies Financial Group increased their price objective on shares of AppLovin from $460.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $433.85.

AppLovin Stock Down 2.0%

Shares of NASDAQ APP traded down $7.58 during midday trading on Tuesday, reaching $363.05. The company's stock had a trading volume of 5,520,161 shares, compared to its average volume of 6,029,721. The stock has a market capitalization of $122.85 billion, a price-to-earnings ratio of 79.97, a PEG ratio of 3.02 and a beta of 2.39. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The stock has a 50 day simple moving average of $287.10 and a 200-day simple moving average of $320.97. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The firm's revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. Equities research analysts predict that AppLovin Co. will post 6.87 earnings per share for the current year.

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.