AppLovin Co. (NASDAQ:APP) Shares Acquired by Ieq Capital LLC

Ieq Capital LLC raised its holdings in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 66.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,866 shares of the company's stock after purchasing an additional 17,454 shares during the quarter. Ieq Capital LLC's holdings in AppLovin were worth $1,748,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Cullen Frost Bankers Inc. bought a new position in shares of AppLovin in the third quarter worth approximately $44,000. GAMMA Investing LLC bought a new position in shares of AppLovin in the fourth quarter worth approximately $47,000. Lindbrook Capital LLC increased its position in shares of AppLovin by 26.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,337 shares of the company's stock worth $53,000 after purchasing an additional 281 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of AppLovin in the third quarter worth approximately $59,000. Finally, Blue Trust Inc. grew its position in AppLovin by 2,032.0% during the fourth quarter. Blue Trust Inc. now owns 2,132 shares of the company's stock valued at $85,000 after acquiring an additional 2,032 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CMO Katie Kihorany Jansen sold 147,984 shares of AppLovin stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $82.29, for a total value of $12,177,603.36. Following the completion of the sale, the chief marketing officer now directly owns 1,264,284 shares in the company, valued at approximately $104,037,930.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total transaction of $166,926.40. Following the completion of the sale, the insider now directly owns 546,560 shares in the company, valued at approximately $31,569,305.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Katie Kihorany Jansen sold 147,984 shares of the business's stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $82.29, for a total value of $12,177,603.36. Following the sale, the chief marketing officer now owns 1,264,284 shares of the company's stock, valued at $104,037,930.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 214,819 shares of company stock worth $17,071,950. 14.69% of the stock is owned by corporate insiders.

AppLovin Stock Down 3.4 %

Shares of APP traded down $2.93 during trading hours on Tuesday, hitting $83.44. The company had a trading volume of 7,761,048 shares, compared to its average volume of 4,220,558. The firm has a fifty day moving average price of $71.07 and a 200-day moving average price of $53.10. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a market capitalization of $27.49 billion, a price-to-earnings ratio of 51.41, a P/E/G ratio of 1.46 and a beta of 1.85. AppLovin Co. has a 52-week low of $21.03 and a 52-week high of $88.50.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $973.70 million. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. AppLovin's quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) EPS. On average, equities research analysts forecast that AppLovin Co. will post 2.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on APP. Stifel Nicolaus increased their price target on shares of AppLovin from $85.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, May 9th. Citigroup raised their target price on shares of AppLovin from $80.00 to $98.00 and gave the stock a "buy" rating in a report on Friday. Morgan Stanley raised their target price on shares of AppLovin from $55.00 to $70.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 16th. UBS Group raised their target price on shares of AppLovin from $46.00 to $55.00 and gave the stock a "neutral" rating in a report on Thursday, February 15th. Finally, Wedbush raised their price target on AppLovin from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $71.72.

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.