AppLovin Co. (NASDAQ:APP) Stock Position Raised by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its stake in shares of AppLovin Co. (NASDAQ:APP) by 181.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,959 shares of the company’s stock after acquiring an additional 47,079 shares during the quarter. QRG Capital Management Inc.’s holdings in AppLovin were worth $23,626,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin in the third quarter valued at $25,000. GHP Investment Advisors Inc. purchased a new stake in shares of AppLovin in the fourth quarter valued at $25,000. Meeder Asset Management Inc. purchased a new stake in shares of AppLovin in the third quarter valued at $27,000. Hemington Wealth Management lifted its holdings in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings 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 purchasing an additional 62 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the sale, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 500 shares of AppLovin stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the sale, the director now directly owns 6,684 shares in the company, valued at approximately $2,715,508.68. This trade represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,372 shares of company stock valued at $92,519,099. 14.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

APP has been the subject of a number of research analyst reports. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and increased their target price for the company from $80.00 to $280.00 in a report on Friday, November 8th. Citigroup increased their price objective on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Wedbush reiterated an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Stifel Nicolaus increased their price objective on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group increased their price objective on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Four investment 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 company. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average price target of $452.29.

AppLovin Trading Down 12.2 %

Shares of NASDAQ:APP opened at $331.00 on Thursday. The company has a market cap of $111.08 billion, a P/E ratio of 72.91, a P/E/G ratio of 3.02 and a beta of 2.30. The stock’s 50-day moving average is $368.06 and its 200-day moving average is $250.75. AppLovin Co. has a 52-week low of $57.40 and a 52-week high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

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

AppLovin Profile

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.