Commonwealth Equity Services LLC Has $4.13 Million Holdings in AppLovin Co. (NASDAQ:APP)

Commonwealth Equity Services LLC raised its position in shares of AppLovin Co. (NASDAQ:APP) by 25.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,749 shares of the company’s stock after acquiring an additional 2,565 shares during the period. Commonwealth Equity Services LLC’s holdings in AppLovin were worth $4,128,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in APP. FMR LLC grew its position in shares of AppLovin by 622.8% during the 3rd quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after purchasing an additional 6,801,138 shares in the last quarter. SVB Wealth LLC acquired a new stake in AppLovin during the fourth quarter worth approximately $1,781,922,000. Baillie Gifford & Co. grew its position in AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after buying an additional 4,010,520 shares in the last quarter. Raymond James Financial Inc. bought a new position in AppLovin during the 4th quarter worth $535,070,000. Finally, Jennison Associates LLC acquired a new position in AppLovin in the 4th quarter valued at $414,462,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on APP shares. JPMorgan Chase & Co. increased their target price on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Citigroup increased their price objective on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Arete Research set a $200.00 target price on shares of AppLovin in a research report on Wednesday, March 5th. Oppenheimer reiterated an “outperform” rating and set a $560.00 price target (up previously from $480.00) on shares of AppLovin in a research report on Thursday, February 13th. Finally, UBS Group lifted their price objective on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Stock Performance

Shares of AppLovin stock opened at $314.03 on Monday. The stock has a market cap of $106.76 billion, a price-to-earnings ratio of 69.17, a P/E/G ratio of 3.02 and a beta of 2.33. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The company’s fifty day moving average is $353.83 and its 200 day moving average is $276.60. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Sell-side analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by company insiders.

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.