Federated Hermes Inc. Has $17.57 Million Position in AppLovin Co. (NASDAQ:APP)

Federated Hermes Inc. cut its stake in AppLovin Co. (NASDAQ:APP) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,928 shares of the company’s stock after selling 914 shares during the period. Federated Hermes Inc. owned approximately 0.13% of AppLovin worth $17,571,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in AppLovin by 8.5% in the third quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock valued at $723,245,000 after purchasing an additional 1,411,453 shares in the last quarter. Sapient Capital LLC bought a new stake in shares of AppLovin during the 4th quarter worth approximately $165,057,000. Ameriprise Financial Inc. lifted its holdings in shares of AppLovin by 4,805.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock worth $56,050,000 after acquiring an additional 1,374,066 shares during the period. Raymond James & Associates boosted its position in shares of AppLovin by 12.3% during the 4th quarter. Raymond James & Associates now owns 1,041,839 shares of the company’s stock worth $41,517,000 after acquiring an additional 113,932 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in AppLovin by 10.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 989,922 shares of the company’s stock valued at $39,557,000 after acquiring an additional 93,618 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on APP. The Goldman Sachs Group raised their target price on AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Oppenheimer raised their price objective on AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. 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 shares of AppLovin in a research note on Monday, April 15th. They issued a “neutral” rating and a $80.00 price target on the stock. Finally, Morgan Stanley lifted their price target on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.31.

Insider Transactions at AppLovin

In other news, Director Craig Scott Billings sold 5,550 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the sale, the director now directly owns 12,739 shares in the company, valued at $743,065.87. The transaction was disclosed in a filing with the SEC, which is available at this link. In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total transaction of $166,926.40. Following the transaction, the insider now directly owns 546,560 shares in the company, valued at approximately $31,569,305.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the sale, the director now owns 12,739 shares of the company’s stock, valued at approximately $743,065.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,215 shares of company stock worth $4,416,815. Company insiders own 12.43% of the company’s stock.

AppLovin Stock Up 1.6 %

Shares of APP opened at $67.85 on Tuesday. The company has a market capitalization of $23.20 billion, a PE ratio of 67.85, a PEG ratio of 1.35 and a beta of 1.90. The stock’s 50-day moving average price is $65.67 and its two-hundred day moving average price is $49.24. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31. AppLovin Co. has a 12 month low of $15.41 and a 12 month high of $79.55.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping 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 return on equity of 24.69% and a net margin of 10.84%. The firm’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.21) earnings per share. On average, analysts anticipate that AppLovin Co. will post 2.47 EPS for the current year.

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.