80,350 Shares in AppLovin Co. (NASDAQ:APP) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 80,350 shares of the company’s stock, valued at approximately $26,020,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin in the fourth quarter valued at about $25,000. Riverview Trust Co grew its position in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares in the last quarter. Hemington Wealth Management increased its holdings in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the period. Fifth Third Bancorp raised its position in shares of AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after buying an additional 62 shares in the last quarter. Finally, Smithfield Trust Co bought a new stake in shares of AppLovin in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 306,900 shares of company stock worth $106,401,841 over the last three months. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

NASDAQ:APP opened at $314.03 on Friday. The stock’s 50-day moving average is $353.83 and its 200-day moving average is $275.28. AppLovin Co. has a 1-year low of $60.67 and a 1-year high of $525.15. 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 stock has a market cap of $106.76 billion, a P/E ratio of 69.17, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. Equities research analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on APP. Oppenheimer reaffirmed an “outperform” rating and issued a $560.00 price objective (up from $480.00) on shares of AppLovin in a report on Thursday, February 13th. Loop Capital upped their price objective on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Citigroup raised their target price on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, UBS Group lifted their price objective on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.28.

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.