AppLovin Co. (NASDAQ:APP) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its stake in shares of AppLovin Co. (NASDAQ:APP) by 7.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 815,786 shares of the company’s stock after purchasing an additional 57,133 shares during the quarter. Van ECK Associates Corp’s holdings in AppLovin were worth $32,509,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its position in shares of AppLovin by 26.6% in the 4th quarter. Lindbrook Capital LLC now owns 1,337 shares of the company’s stock worth $53,000 after buying an additional 281 shares in the last quarter. Xponance Inc. lifted its holdings in shares of AppLovin by 2.5% in the fourth quarter. Xponance Inc. now owns 13,664 shares of the company’s stock valued at $545,000 after purchasing an additional 334 shares in the last quarter. CWM LLC lifted its holdings in shares of AppLovin by 16.5% in the third quarter. CWM LLC now owns 2,463 shares of the company’s stock valued at $98,000 after purchasing an additional 348 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of AppLovin by 2.9% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 22,642 shares of the company’s stock valued at $905,000 after purchasing an additional 641 shares during the last quarter. Finally, BluePath Capital Management LLC purchased a new position in shares of AppLovin during the 3rd quarter worth approximately $33,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. TheStreet raised AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. Daiwa Capital Markets began coverage on AppLovin in a research report on Monday, April 15th. They issued a “neutral” rating and a $80.00 price objective on the stock. Morgan Stanley increased their price objective on AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. BTIG Research boosted their target price on shares of AppLovin from $65.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Finally, UBS Group upped their target price on shares of AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average target price of $59.31.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the transaction, the insider now owns 546,560 shares in the company, valued at $31,569,305.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total value of $166,926.40. Following the completion of the sale, the insider now directly owns 546,560 shares in the company, valued at approximately $31,569,305.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew Stumpf sold 2,775 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the completion of the transaction, the chief financial officer now directly owns 362,264 shares in the company, valued at $22,931,311.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,215 shares of company stock valued at $4,416,815. Company insiders own 12.43% of the company’s stock.

AppLovin Price Performance

APP opened at $70.57 on Wednesday. AppLovin Co. has a 1 year low of $15.70 and a 1 year high of $79.55. The company’s 50 day simple moving average is $67.66 and its 200 day simple moving average is $50.56. The stock has a market capitalization of $24.13 billion, a PE ratio of 70.57, a P/E/G ratio of 1.48 and a beta of 1.90. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. The company had revenue of $953.26 million for the quarter, compared to analyst estimates of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. AppLovin’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) EPS. As a group, sell-side analysts expect that AppLovin Co. will post 2.49 EPS 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.