Donoghue Forlines LLC Has $2.05 Million Holdings in AppLovin Co. (NASDAQ:APP)

Donoghue Forlines LLC boosted its holdings in AppLovin Co. (NASDAQ:APP) by 28.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,317 shares of the company’s stock after acquiring an additional 1,399 shares during the period. AppLovin comprises 0.7% of Donoghue Forlines LLC’s holdings, making the stock its 28th biggest position. Donoghue Forlines LLC’s holdings in AppLovin were worth $2,046,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC raised its stake in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares in the last quarter. Fred Alger Management LLC acquired a new position in shares of AppLovin in the 2nd quarter valued at approximately $290,655,000. WCM Investment Management LLC lifted its holdings in shares of AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after acquiring an additional 1,029,009 shares during the period. Janus Henderson Group PLC boosted its position in shares of AppLovin by 31.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock worth $306,897,000 after acquiring an additional 560,560 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its stake in AppLovin by 2,200.4% in the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after acquiring an additional 500,407 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of APP stock opened at $359.82 on Thursday. The stock has a market capitalization of $120.75 billion, a PE ratio of 109.27, a PEG ratio of 2.77 and a beta of 2.29. The business’s 50 day simple moving average is $334.41 and its 200 day simple moving average is $194.53. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a one year low of $40.71 and a one year 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, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 earnings per share. As a group, research analysts forecast that AppLovin Co. will post 4.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company raised their target price on AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Piper Sandler began coverage on AppLovin in a research report on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 target price on the stock. Wedbush reissued an “outperform” rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Loop Capital raised their price target on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Citigroup increased their price objective on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Four investment 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 company’s stock. According to MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $355.41.

Insiders Place Their Bets

In related news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the transaction, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the sale, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 888,867 shares of company stock worth $284,773,062. Company insiders own 14.69% of the company’s stock.

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.