St. Louis Financial Planners Asset Management LLC Buys Shares of 12,304 AppLovin Co. (NASDAQ:APP)

St. Louis Financial Planners Asset Management LLC bought a new position in AppLovin Co. (NASDAQ:APP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,304 shares of the company's stock, valued at approximately $3,260,000. AppLovin comprises approximately 2.4% of St. Louis Financial Planners Asset Management LLC's portfolio, making the stock its 8th largest position.

A number of other large investors have also recently bought and sold shares of the business. FMR LLC raised its holdings in shares of AppLovin by 75.5% during the fourth 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 during the last quarter. SVB Wealth LLC bought a new stake in shares of AppLovin during the fourth quarter valued at approximately $1,781,922,000. Baillie Gifford & Co. raised its holdings in shares of AppLovin by 5,421.4% during the fourth 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 last quarter. Norges Bank bought a new stake in shares of AppLovin during the fourth quarter valued at approximately $828,138,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings 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 valued at $936,888,000 after buying an additional 2,373,885 shares during the last quarter. Institutional investors own 41.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on AppLovin from $270.00 to $355.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Wells Fargo & Company lifted their price target on AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a research note on Wednesday. Arete Research set a $200.00 price objective on shares of AppLovin in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group raised their price objective on shares of AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AppLovin has a consensus rating of "Moderate Buy" and a consensus target price of $433.85.

Insider Buying and Selling

In related news, Director Herald Y. Chen sold 400,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total value of $149,844,000.00. Following the completion of the transaction, the director now owns 221,209 shares of the company's stock, valued at approximately $82,867,103.49. This trade represents a 64.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 6,585 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $370.23, for a total transaction of $2,437,964.55. Following the completion of the transaction, the insider now directly owns 357,903 shares of the company's stock, valued at $132,506,427.69. This represents a 1.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,115,754 shares of company stock valued at $411,165,970. Company insiders own 14.69% of the company's stock.

AppLovin Price Performance

AppLovin stock traded down $3.35 during mid-day trading on Friday, hitting $380.88. The company's stock had a trading volume of 7,834,410 shares, compared to its average volume of 6,089,088. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $128.88 billion, a P/E ratio of 83.89, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The stock's fifty day moving average price is $298.37 and its two-hundred day moving average price is $328.66.

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 the consensus estimate of $1.45 by $0.22. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The firm's quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 earnings per share. Research analysts forecast 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.