AppLovin Co. (NASDAQ:APP) Position Boosted by Stifel Financial Corp

Stifel Financial Corp boosted its position in AppLovin Co. (NASDAQ:APP - Free Report) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120,253 shares of the company's stock after purchasing an additional 2,752 shares during the quarter. Stifel Financial Corp's holdings in AppLovin were worth $38,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock worth $4,485,409,000 after buying an additional 5,957,885 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of AppLovin in the fourth quarter worth approximately $1,781,922,000. Baillie Gifford & Co. grew its holdings in AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company's stock valued at $1,322,682,000 after purchasing an additional 4,010,520 shares during the period. Norges Bank acquired a new position in AppLovin during the fourth quarter worth approximately $828,138,000. Finally, Arrowstreet Capital Limited Partnership increased its position in AppLovin by 457.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company's stock worth $936,888,000 after purchasing an additional 2,373,885 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

APP has been the subject of a number of research analyst reports. Morgan Stanley upgraded AppLovin from an "equal weight" rating to an "overweight" rating and dropped their price objective for the stock from $470.00 to $350.00 in a report on Thursday, April 10th. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Monday, April 21st. Citigroup raised their price target on shares of AppLovin from $460.00 to $600.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Jefferies Financial Group boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, Oppenheimer reissued an "outperform" rating and issued a $560.00 target price on shares of AppLovin in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $414.05.

Insiders Place Their Bets

In other news, CEO Arash Adam Foroughi sold 44,400 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the sale, the chief executive officer now directly owns 2,869,492 shares in the company, valued at approximately $1,179,045,567.88. This represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the transaction, the director now owns 621,209 shares of the company's stock, valued at $201,675,501.85. This represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 306,900 shares of company stock valued at $106,401,841. Company insiders own 14.69% of the company's stock.

AppLovin Stock Up 0.6 %

Shares of AppLovin stock traded up $1.69 during trading on Monday, reaching $278.52. The company had a trading volume of 3,203,939 shares, compared to its average volume of 5,874,924. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The firm's fifty day moving average is $291.16 and its 200-day moving average is $302.14. The company has a market cap of $94.69 billion, a price-to-earnings ratio of 61.02, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, analysts anticipate that AppLovin Co. will post 6.87 EPS for the current year.

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.