Bessemer Group Inc. Has $80.82 Million Holdings in AppLovin Corporation $APP

Bessemer Group Inc. boosted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 1,234.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,940 shares of the company’s stock after buying an additional 110,955 shares during the period. Bessemer Group Inc.’s holdings in AppLovin were worth $80,819,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Board of the Pension Protection Fund acquired a new stake in AppLovin during the 4th quarter worth about $27,000. Washington Trust Advisors Inc. grew its stake in AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 24 shares in the last quarter. Chilton Capital Management LLC purchased a new position in AppLovin during the 3rd quarter valued at about $29,000. Activest Wealth Management grew its stake in AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after acquiring an additional 38 shares in the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new position in AppLovin during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on APP shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $700.00 target price on shares of AppLovin in a research note on Thursday, February 12th. Wells Fargo & Company lifted their target price on AppLovin from $560.00 to $571.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Evercore reaffirmed a “buy” rating on shares of AppLovin in a research note on Friday, January 30th. BTIG Research reaffirmed a “buy” rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Finally, Morgan Stanley set a $720.00 price target on AppLovin in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $664.35.

Insider Activity at AppLovin

In related news, CEO Arash Adam Foroughi sold 50,000 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total value of $23,302,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,480,414 shares in the company, valued at approximately $1,155,972,140.56. This represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 62,804 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total value of $30,549,749.72. Following the transaction, the chief technology officer owned 3,255,273 shares of the company’s stock, valued at $1,583,462,445.39. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 365,244 shares of company stock worth $169,584,607. 13.66% of the stock is owned by corporate insiders.

AppLovin Stock Up 3.3%

Shares of APP stock opened at $501.00 on Friday. AppLovin Corporation has a 12 month low of $320.00 and a 12 month high of $745.61. The firm has a market cap of $168.31 billion, a PE ratio of 43.04, a price-to-earnings-growth ratio of 0.79 and a beta of 2.37. The stock has a 50 day moving average of $447.26 and a 200-day moving average of $529.13. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.49.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.AppLovin’s revenue was up 58.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.67 earnings per share. On average, equities analysts predict that AppLovin Corporation will post 15.86 EPS for the current year.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.