Stephens Inc. AR Boosts Holdings in AppLovin Co. (NASDAQ:APP)

Stephens Inc. AR raised its stake in shares of AppLovin Co. (NASDAQ:APP) by 9.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,224 shares of the company’s stock after buying an additional 604 shares during the quarter. Stephens Inc. AR’s holdings in AppLovin were worth $2,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in shares of AppLovin in the 2nd quarter worth $241,000. CWM LLC grew its position in AppLovin by 40.0% in the third quarter. CWM LLC now owns 4,659 shares of the company’s stock worth $608,000 after acquiring an additional 1,331 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in AppLovin during the third quarter worth approximately $42,000. Creative Planning raised its position in AppLovin by 251.2% during the third quarter. Creative Planning now owns 144,883 shares of the company’s stock valued at $18,914,000 after purchasing an additional 103,628 shares during the period. Finally, Swedbank AB raised its position in AppLovin by 24.7% during the third quarter. Swedbank AB now owns 96,455 shares of the company’s stock valued at $12,592,000 after purchasing an additional 19,100 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Trading Down 2.4 %

NASDAQ:APP opened at $375.25 on Wednesday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a 50-day simple moving average of $347.17 and a 200-day simple moving average of $223.52. AppLovin Co. has a one year low of $45.12 and a one year high of $417.64. The firm has a market cap of $125.93 billion, a P/E ratio of 113.71, a P/E/G ratio of 3.10 and a beta of 2.30.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. The Goldman Sachs Group boosted their price objective on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Oppenheimer restated an “outperform” rating and issued a $480.00 target price on shares of AppLovin in a report on Tuesday, December 10th. 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 report on Wednesday, January 8th. Finally, UBS Group raised their price objective on shares of AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $366.29.

Insider Buying and Selling

In related news, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $406.27, for a total transaction of $203,135.00. Following the completion of the sale, the director now owns 6,684 shares of the company’s stock, valued at $2,715,508.68. This represents a 6.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the transaction, the chief executive officer now directly owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 828,991 shares of company stock valued at $267,640,144 over the last 90 days. Corporate 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.