AppLovin Co. (NASDAQ:APP) Shares Bought by Atomi Financial Group Inc.

Atomi Financial Group Inc. lifted its position in shares of AppLovin Co. (NASDAQ:APP) by 17.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,749 shares of the company’s stock after buying an additional 413 shares during the quarter. Atomi Financial Group Inc.’s holdings in AppLovin were worth $890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC raised its position in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of AppLovin during the 2nd quarter worth approximately $290,655,000. WCM Investment Management LLC increased its position in AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of AppLovin by 31.3% in the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after acquiring an additional 560,560 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its position in shares of AppLovin by 2,200.4% in the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after acquiring an additional 500,407 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AppLovin

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the transaction, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on APP shares. Wells Fargo & Company lifted their price objective on AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Jefferies Financial Group boosted their price target on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $355.41.

AppLovin Price Performance

APP opened at $361.72 on Thursday. AppLovin Co. has a 52-week low of $40.71 and a 52-week high of $417.64. The company has a 50 day moving average of $334.41 and a two-hundred day moving average of $194.53. The company has a market cap of $121.39 billion, a P/E ratio of 109.61, a P/E/G ratio of 2.80 and a beta of 2.29. 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 (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 EPS. On average, analysts expect that AppLovin Co. will post 4.06 earnings per share 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.