AppLovin Co. (NASDAQ:APP) Shares Acquired by Lindbrook Capital LLC

Lindbrook Capital LLC grew its stake in AppLovin Co. (NASDAQ:APP) by 26.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,337 shares of the company’s stock after purchasing an additional 281 shares during the quarter. Lindbrook Capital LLC’s holdings in AppLovin were worth $53,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of APP. Vanguard Group Inc. boosted its position in AppLovin by 8.5% during the third quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock worth $723,245,000 after acquiring an additional 1,411,453 shares during the last quarter. Sapient Capital LLC acquired a new position in AppLovin during the fourth quarter worth about $165,057,000. Ameriprise Financial Inc. boosted its position in AppLovin by 4,805.9% during the third 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 last quarter. Raymond James & Associates boosted its position in AppLovin by 12.3% during the fourth 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in AppLovin by 10.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 989,922 shares of the company’s stock worth $39,557,000 after acquiring an additional 93,618 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Price Performance

AppLovin stock opened at $69.21 on Friday. The company’s 50 day simple moving average is $66.85 and its 200-day simple moving average is $49.74. The company has a market capitalization of $23.67 billion, a price-to-earnings ratio of 69.21, a price-to-earnings-growth ratio of 1.43 and a beta of 1.90. AppLovin Co. has a 1 year low of $15.61 and a 1 year 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.

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

Insider Activity at AppLovin

In related news, CFO Matthew Stumpf sold 2,775 shares of AppLovin stock in a transaction that occurred on 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 owns 362,264 shares in the company, valued at $22,931,311.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the transaction, the insider now owns 471,560 shares in the company, valued at $35,371,715.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew Stumpf sold 2,775 shares of AppLovin stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total transaction of $175,657.50. Following the completion of the transaction, the chief financial officer now owns 362,264 shares of the company’s stock, valued at approximately $22,931,311.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,215 shares of company stock worth $4,416,815. Corporate insiders own 12.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of AppLovin from $59.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Morgan Stanley boosted their price target on shares of AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Wedbush lifted their target price on shares of AppLovin from $67.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Oppenheimer lifted their target price on shares of AppLovin from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Daiwa Capital Markets started coverage on shares of AppLovin in a research note on Monday, April 15th. They set a “neutral” rating and a $80.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $59.31.

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.