Allspring Global Investments Holdings LLC Has $4.90 Million Stock Holdings in AppLovin Co. (NASDAQ:APP)

Allspring Global Investments Holdings LLC increased its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 486.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,936 shares of the company's stock after purchasing an additional 101,966 shares during the period. Allspring Global Investments Holdings LLC's holdings in AppLovin were worth $4,899,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in APP. Mirae Asset Global Investments Co. Ltd. grew its holdings in AppLovin by 2.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 255,385 shares of the company's stock valued at $10,177,000 after purchasing an additional 5,950 shares during the period. Alpine Woods Capital Investors LLC acquired a new stake in shares of AppLovin during the 4th quarter worth $897,000. Arizona State Retirement System increased its holdings in shares of AppLovin by 2.1% during the 4th quarter. Arizona State Retirement System now owns 40,226 shares of the company's stock worth $1,603,000 after buying an additional 826 shares during the last quarter. Blue Trust Inc. raised its position in shares of AppLovin by 2,032.0% in the 4th quarter. Blue Trust Inc. now owns 2,132 shares of the company's stock worth $85,000 after buying an additional 2,032 shares during the period. Finally, Altfest L J & Co. Inc. acquired a new position in AppLovin in the fourth quarter valued at $411,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 50,000 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the transaction, the insider now owns 471,560 shares in the company, valued at approximately $35,371,715.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other AppLovin news, insider Victoria Valenzuela sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the sale, the insider now directly owns 471,560 shares in the company, valued at $35,371,715.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total value of $323,731.50. Following the transaction, the director now owns 12,739 shares in the company, valued at $743,065.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,215 shares of company stock valued at $4,416,815. 12.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on APP. Morgan Stanley raised their price target on shares of AppLovin from $55.00 to $70.00 and gave the company an "equal weight" rating in a report on Tuesday. Wedbush upped their price target on shares of AppLovin from $67.00 to $87.00 and gave the stock an "outperform" rating in a research report on Thursday, April 11th. TheStreet raised AppLovin from a "d+" rating to a "c-" rating in a research report on Friday, March 8th. UBS Group boosted their price objective on AppLovin from $46.00 to $55.00 and gave the stock a "neutral" rating in a research note on Thursday, February 15th. Finally, Daiwa Capital Markets started coverage on AppLovin in a research note on Monday, April 15th. They issued a "neutral" rating and a $80.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.31.

AppLovin Stock Performance

NASDAQ APP traded down $2.06 during trading hours on Friday, reaching $66.80. The company's stock had a trading volume of 2,614,725 shares, compared to its average volume of 3,575,357. The stock has a market cap of $22.85 billion, a PE ratio of 66.80, a PEG ratio of 1.39 and a beta of 1.90. The business has a 50-day simple moving average of $65.26 and a 200 day simple moving average of $48.98. AppLovin Co. has a 52 week low of $15.41 and a 52 week high of $79.55. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.14. The company had revenue of $953.26 million for the quarter, compared to analysts' expectations of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The firm's quarterly revenue was up 35.7% compared to the same quarter last year. During the same period last year, the business posted ($0.21) earnings per share. Equities research analysts predict that AppLovin Co. will post 2.47 earnings per share 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.