Russell Investments Group Ltd. Has $25.95 Million Holdings in AppLovin Co. (NASDAQ:APP)

Russell Investments Group Ltd. raised its holdings in shares of AppLovin Co. (NASDAQ:APP) by 1.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 651,088 shares of the company’s stock after acquiring an additional 10,594 shares during the quarter. Russell Investments Group Ltd.’s holdings in AppLovin were worth $25,946,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BluePath Capital Management LLC acquired a new position in AppLovin during the 3rd quarter valued at about $33,000. Castleview Partners LLC acquired a new position in AppLovin during the 3rd quarter valued at about $38,000. Cullen Frost Bankers Inc. acquired a new position in AppLovin during the 3rd quarter valued at about $44,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of AppLovin in the 3rd quarter valued at approximately $45,000. Finally, GAMMA Investing LLC acquired a new stake in shares of AppLovin in the 4th quarter valued at approximately $47,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AppLovin

In related news, Director Craig Scott Billings sold 5,550 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 12,739 shares of the company’s stock, valued at $743,065.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Craig Scott Billings sold 5,550 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 12,739 shares of the company’s stock, valued at $743,065.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew Stumpf sold 2,775 shares of the firm’s stock in a transaction 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 directly owns 362,264 shares of the company’s stock, valued at $22,931,311.20. The disclosure for this sale can be found here. Insiders sold 61,215 shares of company stock valued at $4,416,815 in the last ninety days. 12.43% of the stock is currently owned by corporate insiders.

AppLovin Price Performance

Shares of APP opened at $69.74 on Thursday. The stock has a market capitalization of $23.85 billion, a P/E ratio of 69.74, a P/E/G ratio of 1.47 and a beta of 1.90. AppLovin Co. has a twelve month low of $15.70 and a twelve month high of $79.55. The company has a 50 day moving average of $67.66 and a 200-day moving average of $50.56. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31.

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

Wall Street Analysts Forecast Growth

APP has been the topic of a number of analyst reports. TheStreet upgraded shares of AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. The Goldman Sachs Group increased their price target on shares of AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Oppenheimer increased their price target on shares of AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Daiwa Capital Markets initiated coverage on shares of AppLovin in a research report on Monday, April 15th. They issued a “neutral” rating and a $80.00 price target on the stock. Finally, UBS Group increased their price target on shares of AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.07.

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.