Jennison Associates LLC Makes New Investment in AppLovin Co. (NASDAQ:APP)

Jennison Associates LLC purchased a new position in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,279,876 shares of the company’s stock, valued at approximately $414,462,000. Jennison Associates LLC owned approximately 0.38% of AppLovin as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of APP. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin during the third quarter worth approximately $25,000. DT Investment Partners LLC acquired a new position in shares of AppLovin in the 3rd quarter valued at $27,000. Meeder Asset Management Inc. acquired a new stake in shares of AppLovin during the third quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin in the 3rd quarter valued at $29,000. Finally, Fifth Third Bancorp grew its holdings in shares of AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after purchasing an additional 62 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AppLovin

In other AppLovin news, CFO Herald Y. Chen sold 400 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the completion of the transaction, the chief financial officer now owns 207,649 shares in the company, valued at approximately $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 500 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the sale, the director now directly owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. This trade represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 over the last 90 days. Company insiders own 14.69% of the company’s stock.

AppLovin Stock Up 1.1 %

AppLovin stock opened at $369.59 on Monday. The stock has a market capitalization of $124.03 billion, a price-to-earnings ratio of 112.00, a PEG ratio of 3.00 and a beta of 2.30. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a 50 day moving average of $341.58 and a two-hundred day moving average of $208.96. AppLovin Co. has a twelve month low of $40.71 and a twelve month high of $417.64.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the firm posted $0.30 EPS. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. As a group, research analysts expect that AppLovin Co. will post 4.09 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. UBS Group boosted their target price on shares of AppLovin from $315.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Citigroup increased their target price on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Benchmark began coverage on AppLovin in a research note on Friday, January 10th. They set a “buy” rating and a $375.00 target price for the company. Finally, Wells Fargo & Company increased their price target on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $366.29.

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.