UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stake in AppLovin Co. (NASDAQ:APP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AppLovin Co. (NASDAQ:APP - Free Report) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,020,479 shares of the company's stock after acquiring an additional 38,441 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.30% of AppLovin worth $330,462,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of AppLovin during the 4th quarter valued at $25,000. GHP Investment Advisors Inc. acquired a new position in AppLovin in the fourth quarter valued at $25,000. Riverview Trust Co grew its position in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after acquiring an additional 82 shares during the period. Tucker Asset Management LLC acquired a new stake in AppLovin during the fourth quarter worth about $28,000. Finally, Hemington Wealth Management increased its stake in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after acquiring an additional 40 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on APP shares. Loop Capital reaffirmed a "buy" rating and issued a $650.00 price objective on shares of AppLovin in a research note on Friday, March 28th. Piper Sandler lifted their price target on shares of AppLovin from $425.00 to $455.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. FBN Securities initiated coverage on shares of AppLovin in a research report on Friday, March 28th. They issued an "outperform" rating and a $385.00 price objective for the company. Wells Fargo & Company raised their target price on shares of AppLovin from $386.00 to $405.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, Bank of America upped their price target on shares of AppLovin from $375.00 to $580.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $433.85.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 45,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now directly owns 2,914,492 shares of the company's stock, valued at approximately $1,230,527,667.32. This represents a 1.52% decrease in their position. The transaction was disclosed in a legal filing 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 on Monday, May 19th. The stock was sold at an average price of $370.23, for a total value of $2,437,964.55. Following the transaction, the insider now owns 357,903 shares in the company, valued at $132,506,427.69. This trade represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,132,654 shares of company stock valued at $414,627,485 over the last ninety days. Corporate insiders own 14.69% of the company's stock.

AppLovin Trading Down 1.3%

Shares of APP opened at $358.35 on Thursday. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The stock has a 50-day moving average price of $290.23 and a 200 day moving average price of $321.52. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market capitalization of $121.26 billion, a P/E ratio of 78.93, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last announced 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 return on equity of 188.55% and a net margin of 33.54%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the company posted $0.67 EPS. AppLovin's quarterly revenue was up 40.3% on a year-over-year basis. Sell-side analysts forecast 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.

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