Charles Schwab Investment Management Inc. Boosts Stake in AppLovin Co. (NASDAQ:APP)

Charles Schwab Investment Management Inc. raised its position in AppLovin Co. (NASDAQ:APP) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 965,178 shares of the company’s stock after purchasing an additional 14,238 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.29% of AppLovin worth $312,554,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in AppLovin in the third quarter valued at $25,000. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin in the 4th quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new position in shares of AppLovin in the 3rd quarter valued at about $27,000. Riverview Trust Co grew its position in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after buying an additional 82 shares in the last quarter. Finally, Hemington Wealth Management increased its stake 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 buying an additional 40 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. upped their price objective on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Jefferies Financial Group increased their price objective on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Thursday, February 13th. Finally, Bank of America increased their price target on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $452.29.

AppLovin Stock Down 2.8 %

APP stock opened at $318.00 on Thursday. The company has a 50 day moving average price of $366.88 and a two-hundred day moving average price of $259.26. 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 stock has a market capitalization of $106.72 billion, a P/E ratio of 70.04, a PEG ratio of 3.02 and a beta of 2.30. AppLovin Co. has a one year low of $59.30 and a one year high of $525.15.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS 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%. As a group, sell-side analysts expect that AppLovin Co. will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In other AppLovin news, CFO Herald Y. Chen sold 400 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the completion of the sale, the chief financial officer now directly owns 207,649 shares in the company, valued at $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value 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 have sold a total of 406,947 shares of company stock worth $140,740,416 in the last three months. Company 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.