Los Angeles Capital Management LLC Buys 83,782 Shares of AppLovin Co. (NASDAQ:APP)

Los Angeles Capital Management LLC raised its holdings in AppLovin Co. (NASDAQ:APP - Free Report) by 55.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 235,042 shares of the company's stock after buying an additional 83,782 shares during the period. Los Angeles Capital Management LLC owned approximately 0.07% of AppLovin worth $9,366,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of APP. Lindbrook Capital LLC boosted its stake in AppLovin by 26.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,337 shares of the company's stock valued at $53,000 after acquiring an additional 281 shares in the last quarter. Xponance Inc. grew its stake in AppLovin by 2.5% during the 4th quarter. Xponance Inc. now owns 13,664 shares of the company's stock worth $545,000 after buying an additional 334 shares during the last quarter. CWM LLC increased its position in AppLovin by 16.3% during the fourth quarter. CWM LLC now owns 2,864 shares of the company's stock worth $114,000 after buying an additional 401 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in AppLovin by 2.9% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 22,642 shares of the company's stock valued at $905,000 after buying an additional 641 shares during the last quarter. Finally, BluePath Capital Management LLC acquired a new stake in shares of AppLovin in the third quarter valued at approximately $33,000. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In related news, 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 transaction of $323,731.50. Following the transaction, the director now owns 12,739 shares in the company, valued at approximately $743,065.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Victoria Valenzuela sold 2,890 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the completion of the transaction, the insider now directly owns 546,560 shares in the company, valued at $31,569,305.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig Scott Billings sold 5,550 shares of the firm's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction of $323,731.50. Following the sale, the director now directly owns 12,739 shares of the company's stock, valued at $743,065.87. The disclosure for this sale can be found here. Insiders have sold a total of 61,215 shares of company stock valued at $4,416,815 over the last ninety days. Corporate insiders own 12.43% of the company's stock.

AppLovin Trading Up 3.6 %

AppLovin stock traded up $2.60 during trading on Friday, hitting $75.07. The company's stock had a trading volume of 2,974,643 shares, compared to its average volume of 3,375,075. The stock's fifty day moving average is $68.59 and its 200 day moving average is $51.27. AppLovin Co. has a 1-year low of $16.56 and a 1-year high of $79.55. The stock has a market capitalization of $25.67 billion, a price-to-earnings ratio of 75.07, a P/E/G ratio of 1.49 and a beta of 1.85. 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 (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.35 by $0.14. The firm had revenue of $953.26 million during the quarter, compared to analyst estimates of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. AppLovin's revenue for the quarter was up 35.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.21) earnings per share. As a group, equities research analysts predict that AppLovin Co. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

APP has been the topic of several recent research reports. Wedbush boosted their price target on AppLovin from $67.00 to $87.00 and gave the company an "outperform" rating in a research report on Thursday, April 11th. BTIG Research boosted their target price on AppLovin from $65.00 to $87.00 and gave the company a "buy" rating in a report on Tuesday, April 9th. UBS Group increased their price target on AppLovin from $46.00 to $55.00 and gave the stock a "neutral" rating in a report on Thursday, February 15th. The Goldman Sachs Group boosted their price objective on shares of AppLovin from $59.00 to $73.00 and gave the company a "buy" rating in a research note on Thursday, February 15th. Finally, Stifel Nicolaus upped their price objective on shares of AppLovin from $65.00 to $85.00 and gave the stock a "buy" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $63.60.

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.