AppLovin Co. (NASDAQ:APP) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its holdings in AppLovin Co. (NASDAQ:APP) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,609 shares of the company’s stock after buying an additional 3,172 shares during the quarter. Pictet Asset Management Holding SA’s holdings in AppLovin were worth $25,780,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. X Square Capital LLC grew its position in AppLovin by 2.5% during the fourth quarter. X Square Capital LLC now owns 3,999 shares of the company’s stock worth $1,295,000 after buying an additional 99 shares during the period. Norges Bank purchased a new stake in shares of AppLovin during the 4th quarter worth approximately $828,138,000. AssuredPartners Investment Advisors LLC acquired a new stake in shares of AppLovin in the 4th quarter worth approximately $1,042,000. NEOS Investment Management LLC purchased a new position in AppLovin in the 4th quarter valued at approximately $6,262,000. Finally, Sava Infond d.o.o. acquired a new position in AppLovin during the fourth quarter worth $130,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the topic of several research reports. Arete Research set a $200.00 target price on AppLovin in a report on Wednesday, March 5th. Oppenheimer restated an “outperform” rating on shares of AppLovin in a report on Thursday. Jefferies Financial Group increased their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Macquarie lifted their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Citigroup increased their target price on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $435.47.

Insider Activity

In other news, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value 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 trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock valued at $106,401,841 in the last three months. Corporate insiders own 14.69% of the company’s stock.

AppLovin Stock Down 2.7 %

Shares of APP opened at $264.97 on Tuesday. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The company’s fifty day moving average is $350.31 and its two-hundred day moving average is $285.50. The firm has a market cap of $90.08 billion, a PE ratio of 58.36, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

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

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.