Pallas Capital Advisors LLC Has $4.60 Million Holdings in AppLovin Co. (NASDAQ:APP)

Pallas Capital Advisors LLC lessened its holdings in shares of AppLovin Co. (NASDAQ:APP) by 10.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,214 shares of the company’s stock after selling 1,702 shares during the period. Pallas Capital Advisors LLC’s holdings in AppLovin were worth $4,603,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in APP. FMR LLC grew its position 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 acquiring an additional 6,801,138 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of AppLovin during the second quarter worth $290,655,000. 1832 Asset Management L.P. lifted its stake in shares of AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after acquiring an additional 1,357,400 shares during the last quarter. WCM Investment Management LLC grew its position in AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after acquiring an additional 1,029,009 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in AppLovin by 31.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after purchasing an additional 560,560 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

AppLovin Trading Down 0.9 %

Shares of NASDAQ:APP traded down $2.80 during trading on Monday, reaching $315.68. 3,797,028 shares of the company traded hands, compared to its average volume of 4,541,532. 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 Co. has a 52-week low of $39.43 and a 52-week high of $417.64. The firm has a market capitalization of $105.94 billion, a price-to-earnings ratio of 95.66, a P/E/G ratio of 4.17 and a beta of 2.29. The business’s fifty day moving average is $318.41 and its 200-day moving average is $181.16.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same period last year, the company earned $0.30 EPS. As a group, analysts forecast that AppLovin Co. will post 4.06 EPS for the current year.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the sale, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of AppLovin stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the sale, the chief executive officer now owns 3,058,635 shares of the company’s stock, 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 888,867 shares of company stock valued at $284,773,062 in the last ninety days. 14.69% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

APP has been the topic of several analyst reports. Oppenheimer reissued an “outperform” rating and issued a $480.00 price objective on shares of AppLovin in a research note on Tuesday, December 10th. Citigroup increased their price target on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Benchmark assumed coverage on AppLovin in a research note on Friday. They issued a “buy” rating and a $375.00 price objective on the stock. Loop Capital raised their price target on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Wells Fargo & Company upped their price objective on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $338.06.

AppLovin Company 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.