Asset Management One Co. Ltd. Has $25.15 Million Position in AppLovin Co. (NASDAQ:APP)

Asset Management One Co. Ltd. boosted its position in shares of AppLovin Co. (NASDAQ:APP) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 75,030 shares of the company’s stock after purchasing an additional 4,332 shares during the quarter. Asset Management One Co. Ltd.’s holdings in AppLovin were worth $25,148,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. WCM Investment Management LLC grew its holdings in AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the period. FMR LLC lifted its stake in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after buying an additional 6,801,138 shares in the last quarter. State Street Corp lifted its stake in AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after buying an additional 428,419 shares in the last quarter. Geode Capital Management LLC lifted its stake in AppLovin by 12.8% in the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after buying an additional 449,241 shares in the last quarter. Finally, Fred Alger Management LLC lifted its stake in AppLovin by 1.3% in the third quarter. Fred Alger Management LLC now owns 3,539,467 shares of the company’s stock valued at $462,077,000 after buying an additional 46,854 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

NASDAQ APP opened at $510.13 on Friday. AppLovin Co. has a 1 year low of $52.75 and a 1 year high of $525.15. The firm has a market capitalization of $171.19 billion, a P/E ratio of 154.59, a price-to-earnings-growth ratio of 3.10 and a beta of 2.30. The firm’s fifty day moving average price is $351.33 and its two-hundred day moving average price is $229.34. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. As a group, research analysts anticipate that AppLovin Co. will post 4.09 EPS for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares in the company, valued at $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction on 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 owns 3,919,024 shares in the company, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 828,991 shares of company stock worth $267,640,144 over the last ninety days. Insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

APP has been the topic of a number of research reports. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $80.00 to $280.00 in a research note on Friday, November 8th. UBS Group lifted their price target on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Benchmark boosted their price objective on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday. Four 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $422.18.

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.