AppLovin Co. (NASDAQ:APP) Shares Acquired by Xponance Inc.

Xponance Inc. increased its stake in AppLovin Co. (NASDAQ:APP) by 7.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,224 shares of the company’s stock after acquiring an additional 3,205 shares during the period. Xponance Inc.’s holdings in AppLovin were worth $15,293,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Intech Investment Management LLC raised its stake in shares of AppLovin by 209.9% in the fourth quarter. Intech Investment Management LLC now owns 67,945 shares of the company’s stock valued at $22,003,000 after acquiring an additional 46,020 shares in the last quarter. PDS Planning Inc acquired a new stake in shares of AppLovin in the fourth quarter valued at $342,000. Primecap Management Co. CA acquired a new stake in shares of AppLovin in the fourth quarter valued at $112,725,000. Axxcess Wealth Management LLC raised its stake in shares of AppLovin by 30.1% in the fourth quarter. Axxcess Wealth Management LLC now owns 5,694 shares of the company’s stock valued at $1,844,000 after acquiring an additional 1,316 shares in the last quarter. Finally, Cozad Asset Management Inc. raised its stake in shares of AppLovin by 342.1% in the fourth quarter. Cozad Asset Management Inc. now owns 37,096 shares of the company’s stock valued at $12,013,000 after acquiring an additional 28,706 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Performance

NASDAQ APP opened at $278.84 on Wednesday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15. The business’s 50-day moving average price is $355.01 and its 200 day moving average price is $272.03. The firm has a market cap of $94.79 billion, a P/E ratio of 61.42, a P/E/G ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, equities research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the sale, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. The trade was a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 322,871 shares of company stock valued at $111,401,882. 14.69% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APP. Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th. Citigroup raised their price target on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. UBS Group raised their price target on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Macquarie raised their price target on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Bank of America raised their price target on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

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.