843 Shares in AppLovin Co. (NASDAQ:APP) Acquired by Greenleaf Trust

Greenleaf Trust bought a new stake in shares of AppLovin Co. (NASDAQ:APP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 843 shares of the company’s stock, valued at approximately $273,000.

A number of other institutional investors and hedge funds have also made changes to their positions in APP. Truist Financial Corp grew its holdings in AppLovin by 510.9% in the second quarter. Truist Financial Corp now owns 27,697 shares of the company’s stock worth $2,305,000 after purchasing an additional 23,163 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of AppLovin by 115.3% in the 2nd quarter. Cetera Investment Advisers now owns 30,619 shares of the company’s stock worth $2,548,000 after purchasing an additional 16,397 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in AppLovin during the 2nd quarter worth $241,000. GAMMA Investing LLC increased its position in AppLovin by 8.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after buying an additional 126 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC purchased a new stake in AppLovin in the third quarter valued at about $725,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. 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. Benchmark initiated coverage on shares of AppLovin in a report on Friday, January 10th. They set a “buy” rating and a $375.00 price objective on the stock. Wedbush restated an “outperform” rating and issued a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target on AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $366.29.

Insider Buying and Selling

In other news, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the transaction, the chief technology officer now owns 3,919,024 shares in the company, 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 SEC, which is available through this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the sale, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 888,867 shares of company stock worth $284,773,062. Insiders own 14.69% of the company’s stock.

AppLovin Trading Down 3.2 %

Shares of APP stock opened at $368.27 on Thursday. The stock has a 50 day simple moving average of $344.30 and a 200-day simple moving average of $214.15. AppLovin Co. has a 1-year low of $45.08 and a 1-year high of $417.64. The company has a market cap of $123.59 billion, a price-to-earnings ratio of 111.60, a PEG ratio of 3.00 and a beta of 2.30. 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 (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating 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 last year, the business earned $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. On average, equities research analysts expect that AppLovin Co. will post 4.09 EPS 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.