Diversified Trust Co Raises Stake in AppLovin Co. (NASDAQ:APP)

Diversified Trust Co increased its stake in AppLovin Co. (NASDAQ:APP) by 27.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,034 shares of the company’s stock after buying an additional 1,072 shares during the period. Diversified Trust Co’s holdings in AppLovin were worth $1,630,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APP. Capital Performance Advisors LLP purchased a new position in shares of AppLovin during the third quarter valued at $25,000. DT Investment Partners LLC bought a new position in AppLovin during the 3rd quarter worth about $27,000. Meeder Asset Management Inc. purchased a new position in AppLovin during the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. bought a new stake in shares of AppLovin in the 3rd quarter valued at about $29,000. Finally, Quest Partners LLC purchased a new stake in shares of AppLovin in the 2nd quarter worth approximately $33,000. Institutional investors own 41.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on APP shares. Jefferies Financial Group boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America boosted their price target on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Citigroup raised their price objective on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Loop Capital boosted their target price on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Wedbush restated an “outperform” rating and issued a $270.00 price target (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $312.18.

Insider Transactions at AppLovin

In related news, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the sale, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the completion of the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at $204,688,365.50. The trade was a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock worth $284,773,062 over the last 90 days. 14.69% of the stock is currently owned by company insiders.

AppLovin Stock Down 0.2 %

AppLovin stock opened at $329.20 on Thursday. The business’s 50-day simple moving average is $312.12 and its two-hundred day simple moving average is $177.04. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market cap of $110.48 billion, a PE ratio of 99.76, a PEG ratio of 4.17 and a beta of 2.29. AppLovin Co. has a fifty-two week low of $38.60 and a fifty-two week high of $417.64.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. AppLovin’s revenue for the quarter was up 38.6% on a year-over-year basis. Equities analysts anticipate that AppLovin Co. will post 4.06 EPS for the current year.

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.