AppLovin Co. (NASDAQ:APP) Stock Position Raised by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC grew its stake in AppLovin Co. (NASDAQ:APP) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,394 shares of the company’s stock after buying an additional 1,311 shares during the period. AppLovin makes up about 0.8% of Linden Thomas Advisory Services LLC’s holdings, making the stock its 9th biggest holding. Linden Thomas Advisory Services LLC’s holdings in AppLovin were worth $6,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in APP. Fifth Third Bancorp lifted its position in AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in AppLovin by 139.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after acquiring an additional 89 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of AppLovin in the 3rd quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin during the 3rd quarter valued at $27,000. Finally, DT Investment Partners LLC purchased a new position in AppLovin in the 3rd quarter worth $27,000. Institutional investors own 41.85% of the company’s stock.

Insider Activity at AppLovin

In related news, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $318.94, for a total transaction of $5,740,920.00. Following the sale, the director now directly owns 2,987 shares of the company’s stock, valued at approximately $952,673.78. This represents a 85.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of AppLovin stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the transaction, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock valued at $284,773,062 in the last 90 days. Corporate insiders own 14.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on APP shares. Bank of America raised their price objective on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Citigroup raised their target price on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. UBS Group increased their price target on shares of AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Oppenheimer restated an “outperform” rating and issued a $480.00 price objective on shares of AppLovin in a research report on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $355.41.

AppLovin Stock Performance

Shares of AppLovin stock opened at $363.10 on Friday. The business has a fifty day simple moving average of $337.41 and a two-hundred day simple moving average of $197.62. The firm has a market capitalization of $121.85 billion, a P/E ratio of 110.03, a P/E/G ratio of 2.96 and a beta of 2.29. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin Co. has a 12 month low of $40.71 and a 12 month high of $417.64.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm posted $0.30 earnings per share. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. On average, equities analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

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.