Assenagon Asset Management S.A. Takes Position in AppLovin Co. (NASDAQ:APP)

Assenagon Asset Management S.A. purchased 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 (SEC). The institutional investor purchased 4,052 shares of the company’s stock, valued at approximately $1,312,000.

Several other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised 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 valued at $1,030,462,000 after acquiring an additional 6,801,138 shares during the last quarter. WCM Investment Management LLC grew its stake in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares during the period. Janus Henderson Group PLC increased its holdings in AppLovin by 31.3% in the third quarter. Janus Henderson Group PLC now owns 2,350,802 shares of the company’s stock valued at $306,897,000 after purchasing an additional 560,560 shares during the last quarter. Eagle Asset Management Inc. lifted 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 buying an additional 500,407 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in AppLovin by 12.8% during the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after buying an additional 449,241 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value 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 approximately $1,090,066,927.65. This represents a 0.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction 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 transaction, the chief marketing officer now owns 1,017,388 shares in the company, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 888,867 shares of company stock valued at $284,773,062 in the last three months. 14.69% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

APP has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $480.00 price target on shares of AppLovin in a research note on Tuesday, December 10th. Benchmark assumed coverage on shares of AppLovin in a research note on Friday, January 10th. They issued a “buy” rating and a $375.00 target price for the company. Wells Fargo & Company lifted their price target on shares of AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Stifel Nicolaus lifted their target price on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $355.41.

AppLovin Stock Up 0.2 %

Shares of AppLovin stock opened at $362.52 on Friday. AppLovin Co. has a 52-week low of $40.71 and a 52-week high of $417.64. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The business’s 50 day simple moving average is $335.97 and its 200 day simple moving average is $195.69. The firm has a market cap of $121.66 billion, a PE ratio of 109.85, a P/E/G ratio of 2.77 and a beta of 2.29.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company earned $0.30 earnings per share. The firm’s revenue was up 38.6% compared to the same quarter last year. On average, analysts predict 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.