AppLovin Co. (NASDAQ:APP) Shares Bought by Diversified Trust Co

Diversified Trust Co lifted its holdings in shares of AppLovin Co. (NASDAQ:APP) by 27.1% in the 4th quarter, HoldingsChannel reports. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in AppLovin during the 3rd quarter worth approximately $25,000. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the third quarter worth approximately $27,000. Meeder Asset Management Inc. purchased a new stake in shares of AppLovin during the third quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin in the 3rd quarter valued at $29,000. Finally, Quest Partners LLC purchased a new position in AppLovin in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the sale, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 888,867 shares of company stock worth $284,773,062. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

APP stock opened at $329.20 on Thursday. AppLovin Co. has a 1 year low of $38.60 and a 1 year high of $417.64. The firm has a market capitalization of $110.48 billion, a P/E ratio of 99.76, a P/E/G ratio of 4.17 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The business’s 50-day moving average is $312.12 and its two-hundred day moving average is $177.04.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. Analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Loop Capital upped 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. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. BTIG Research lifted their price objective on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Citigroup upped 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. Finally, Bank of America raised their price target on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $312.18.

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.