AppLovin Co. (NASDAQ:APP) Shares Purchased by Donoghue Forlines LLC

Donoghue Forlines LLC grew its position in shares of AppLovin Co. (NASDAQ:APP) by 28.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,317 shares of the company’s stock after purchasing an additional 1,399 shares during the quarter. AppLovin accounts for 0.7% of Donoghue Forlines LLC’s portfolio, making the stock its 28th largest position. Donoghue Forlines LLC’s holdings in AppLovin were worth $2,046,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of APP. Townsquare Capital LLC increased its holdings in shares of AppLovin by 64.9% in the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after buying an additional 3,126 shares in the last quarter. Second Half Financial Partners LLC acquired a new stake in shares of AppLovin during the third quarter worth $224,000. State Street Corp lifted its holdings in shares of AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after purchasing an additional 428,419 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in AppLovin by 2,200.4% during the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after buying an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management lifted its position in shares of AppLovin by 328.1% in the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after acquiring an additional 81,331 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on APP shares. Wells Fargo & Company raised their price target on shares of AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Benchmark started coverage on shares of AppLovin in a report on Friday, January 10th. They set a “buy” rating and a $375.00 price target on the stock. BTIG Research increased their price objective on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wedbush restated an “outperform” rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group downgraded AppLovin from a “buy” rating to a “neutral” rating and raised their price target for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Four research analysts have rated the stock with 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.com, the company has an average rating of “Moderate Buy” and an average target price of $355.41.

AppLovin Stock Down 0.5 %

Shares of APP opened at $359.82 on Thursday. The business’s 50 day simple moving average is $334.41 and its 200-day simple moving average is $194.53. AppLovin Co. has a one year low of $40.71 and a one year high of $417.64. The company has a market capitalization of $120.75 billion, a P/E ratio of 109.27, a PEG ratio of 2.77 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for 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 business’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS. As a group, sell-side analysts predict that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of the business’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 sale, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock worth $284,773,062 in the last ninety days. Company insiders own 14.69% of the company’s stock.

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.