AppLovin Co. (NASDAQ:APP) Shares Acquired by Strs Ohio

Strs Ohio increased its stake in AppLovin Co. (NASDAQ:APP) by 5.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,289 shares of the company’s stock after acquiring an additional 1,056 shares during the quarter. Strs Ohio’s holdings in AppLovin were worth $808,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CWM LLC grew its holdings in shares of AppLovin by 16.5% during the third quarter. CWM LLC now owns 2,463 shares of the company’s stock valued at $98,000 after buying an additional 348 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of AppLovin by 2.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 22,642 shares of the company’s stock valued at $905,000 after buying an additional 641 shares in the last quarter. BluePath Capital Management LLC purchased a new position in shares of AppLovin during the third quarter valued at $33,000. Arizona State Retirement System grew its holdings in shares of AppLovin by 2.1% during the fourth quarter. Arizona State Retirement System now owns 40,226 shares of the company’s stock valued at $1,603,000 after buying an additional 826 shares in the last quarter. Finally, Castleview Partners LLC purchased a new position in shares of AppLovin during the third quarter valued at $38,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on APP shares. The Goldman Sachs Group lifted their price target on AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Oppenheimer lifted their price objective on AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. TheStreet raised AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. UBS Group lifted their price objective on AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Finally, Daiwa Capital Markets began coverage on AppLovin in a research report on Monday, April 15th. They set a “neutral” rating and a $80.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.31.

AppLovin Price Performance

NASDAQ APP opened at $69.70 on Thursday. AppLovin Co. has a twelve month low of $15.41 and a twelve month high of $79.55. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. The stock has a market capitalization of $23.84 billion, a PE ratio of 69.70, a P/E/G ratio of 1.37 and a beta of 1.90. The stock has a 50-day simple moving average of $66.64 and a 200 day simple moving average of $49.60.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.14. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The firm had revenue of $953.26 million for the quarter, compared to analyst estimates of $928.66 million. During the same period in the previous year, the company posted ($0.21) earnings per share. The company’s quarterly revenue was up 35.7% compared to the same quarter last year. Research analysts anticipate that AppLovin Co. will post 2.47 EPS for the current year.

Insider Activity at AppLovin

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

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.