X Square Capital LLC Purchases 99 Shares of AppLovin Co. (NASDAQ:APP)

X Square Capital LLC raised its holdings in shares of AppLovin Co. (NASDAQ:APP) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,999 shares of the company’s stock after acquiring an additional 99 shares during the quarter. X Square Capital LLC’s holdings in AppLovin were worth $1,295,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. FMR LLC lifted its holdings in AppLovin by 622.8% in the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of AppLovin during the fourth quarter valued at approximately $1,781,922,000. Baillie Gifford & Co. lifted its holdings in shares of AppLovin by 5,421.4% in the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after buying an additional 4,010,520 shares in the last quarter. Norges Bank bought a new position in shares of AppLovin during the fourth quarter worth $828,138,000. Finally, Raymond James Financial Inc. purchased a new position in AppLovin during the fourth quarter valued at $535,070,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on APP shares. The Goldman Sachs Group increased their price objective on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Piper Sandler increased their price target on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Oppenheimer reissued an “outperform” rating and issued a $560.00 target price (up from $480.00) on shares of AppLovin in a report on Thursday, February 13th. Jefferies Financial Group upped their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Macquarie boosted their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Stock Down 20.1 %

NASDAQ:APP opened at $261.70 on Friday. The stock has a fifty day simple moving average of $353.26 and a 200-day simple moving average of $280.42. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market cap of $88.97 billion, a price-to-earnings ratio of 57.64, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP) last released 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 net margin of 33.54% and a return on equity of 188.55%. Analysts anticipate that AppLovin Co. will post 6.87 EPS for the current year.

Insider Buying and Selling

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock valued at $106,401,841 over the last quarter. 14.69% of the stock is owned by corporate insiders.

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.