Yarbrough Capital LLC Takes Position in AppLovin Co. (NASDAQ:APP)

Yarbrough Capital LLC acquired a new stake in AppLovin Co. (NASDAQ:APP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,708 shares of the company's stock, valued at approximately $983,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GHP Investment Advisors Inc. bought a new position in shares of AppLovin in the 4th quarter valued at about $25,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of AppLovin during the 4th quarter worth about $25,000. Riverview Trust Co boosted its holdings in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after buying an additional 82 shares during the period. Tucker Asset Management LLC bought a new stake in shares of AppLovin during the 4th quarter worth about $28,000. Finally, Hemington Wealth Management boosted its holdings in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after buying an additional 40 shares during the period. Institutional investors own 41.85% of the company's stock.

AppLovin Price Performance

APP stock opened at $417.89 on Friday. The company has a 50 day simple moving average of $311.16 and a 200 day simple moving average of $332.34. The stock has a market cap of $141.41 billion, a price-to-earnings ratio of 92.05, a P/E/G ratio of 3.02 and a beta of 2.53. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

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

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 513 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $420.30, for a total transaction of $215,613.90. Following the sale, the director now directly owns 3,451 shares of the company's stock, valued at $1,450,455.30. The trade was a 12.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Victoria Valenzuela sold 6,585 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $370.23, for a total transaction of $2,437,964.55. Following the completion of the sale, the insider now directly owns 357,903 shares in the company, valued at approximately $132,506,427.69. This represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,228,968 shares of company stock valued at $458,718,165 in the last ninety days. 14.69% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

APP has been the subject of several research analyst reports. Arete Research set a $200.00 target price on shares of AppLovin in a report on Wednesday, March 5th. Benchmark reaffirmed a "buy" rating and set a $525.00 target price on shares of AppLovin in a report on Thursday, May 8th. JPMorgan Chase & Co. lifted their target price on shares of AppLovin from $355.00 to $400.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. Morgan Stanley lifted their target price on shares of AppLovin from $350.00 to $420.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $500.00 price objective (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, AppLovin presently has an average rating of "Moderate Buy" and a consensus price target of $436.10.

About AppLovin

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.

Want to see what other hedge funds are holding APP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AppLovin Co. (NASDAQ:APP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.