IFM Investors Pty Ltd Takes $2.19 Million Position in AppLovin Co. (NASDAQ:APP)

IFM Investors Pty Ltd purchased a new stake in shares of AppLovin Co. (NASDAQ:APP - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 31,641 shares of the company's stock, valued at approximately $2,190,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of AppLovin by 8.5% during the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company's stock valued at $723,245,000 after buying an additional 1,411,453 shares in the last quarter. Sapient Capital LLC purchased a new position in shares of AppLovin during the 4th quarter valued at about $165,057,000. First Trust Advisors LP raised its holdings in shares of AppLovin by 42.6% during the 4th quarter. First Trust Advisors LP now owns 2,298,740 shares of the company's stock valued at $91,605,000 after buying an additional 686,258 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of AppLovin by 4,805.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company's stock valued at $56,050,000 after buying an additional 1,374,066 shares in the last quarter. Finally, Norges Bank purchased a new position in AppLovin in the 4th quarter worth approximately $43,973,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APP has been the topic of a number of analyst reports. UBS Group lifted their price target on AppLovin from $46.00 to $55.00 and gave the stock a "neutral" rating in a research note on Thursday, February 15th. Wedbush lifted their price target on AppLovin from $67.00 to $87.00 and gave the stock an "outperform" rating in a research note on Thursday, April 11th. TheStreet raised AppLovin from a "d+" rating to a "c-" rating in a research note on Friday, March 8th. BTIG Research lifted their price target on AppLovin from $65.00 to $87.00 and gave the stock a "buy" rating in a research note on Tuesday, April 9th. Finally, Oppenheimer lifted their price target on AppLovin from $70.00 to $85.00 and gave the stock an "outperform" rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.31.

AppLovin Stock Up 6.7 %

Shares of NASDAQ APP traded up $4.61 during mid-day trading on Friday, hitting $73.82. 5,381,253 shares of the stock traded hands, compared to its average volume of 3,326,516. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. AppLovin Co. has a 52 week low of $15.70 and a 52 week high of $79.55. The company has a market cap of $25.25 billion, a price-to-earnings ratio of 73.82, a PEG ratio of 1.39 and a beta of 1.90. The stock has a fifty day moving average price of $67.13 and a 200-day moving average price of $50.03.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.14. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The company had revenue of $953.26 million for the quarter, compared to analyst estimates of $928.66 million. During the same period in the previous year, the company posted ($0.21) earnings per share. The firm's revenue was up 35.7% on a year-over-year basis. Research analysts anticipate that AppLovin Co. will post 2.49 EPS for the current year.

Insiders Place Their Bets

In other AppLovin news, insider Victoria Valenzuela sold 50,000 shares of the business's stock in a transaction 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 sale, the insider now directly owns 471,560 shares of the company's stock, valued at $35,371,715.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Craig Scott Billings sold 5,550 shares of the company's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the transaction, the director now directly owns 12,739 shares of the company's stock, valued at $743,065.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Victoria Valenzuela sold 50,000 shares of the company's stock in a transaction on 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 transaction, the insider now directly owns 471,560 shares in the company, valued at $35,371,715.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,215 shares of company stock valued at $4,416,815. 12.43% of the stock is currently owned by corporate insiders.

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.