AppLovin Co. (NASDAQ:APP) Stock Position Lifted by Royal London Asset Management Ltd.

by · The Markets Daily

Royal London Asset Management Ltd. grew its position in shares of AppLovin Co. (NASDAQ:APP – Free Report) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,065 shares of the company’s stock after buying an additional 10,089 shares during the period. Royal London Asset Management Ltd.’s holdings in AppLovin were worth $35,642,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of APP. GHP Investment Advisors Inc. bought a new stake in shares of AppLovin in the 4th quarter worth approximately $25,000. Riverview Trust Co lifted its holdings in shares of AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares during the last quarter. Finally, Smithfield Trust Co bought a new stake in shares of AppLovin in the 4th quarter worth approximately $32,000. Institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Macquarie raised their price target on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Loop Capital raised their target price on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Monday. Jefferies Financial Group raised their target price on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group raised their target price on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have issued 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.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $438.28.

Check Out Our Latest Stock Analysis on APP

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 44,400 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the completion of the sale, the chief executive officer now owns 2,869,492 shares of the company’s stock, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was 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 directly 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 sold a total of 306,900 shares of company stock valued at $106,401,841 over the last quarter. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $306.74 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $104.28 billion, a price-to-earnings ratio of 67.56, a PEG ratio of 3.02 and a beta of 2.33. The stock’s fifty day simple moving average is $353.92 and its 200 day simple moving average is $272.44. AppLovin Co. has a 52-week low of $60.67 and a 52-week high of $525.15.

AppLovin (NASDAQ:APP – Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping 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 forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

AppLovin Profile

(Free Report)

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.

Further Reading

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