Intech Investment Management LLC Buys 46,020 Shares of AppLovin Co. (NASDAQ:APP)

Intech Investment Management LLC increased its stake in shares of AppLovin Co. (NASDAQ:APP) by 209.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,945 shares of the company’s stock after acquiring an additional 46,020 shares during the period. Intech Investment Management LLC’s holdings in AppLovin were worth $22,003,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of APP. PDS Planning Inc bought a new stake in AppLovin in the fourth quarter valued at approximately $342,000. Primecap Management Co. CA bought a new stake in AppLovin in the fourth quarter valued at approximately $112,725,000. Axxcess Wealth Management LLC raised its stake in AppLovin by 30.1% in the fourth quarter. Axxcess Wealth Management LLC now owns 5,694 shares of the company’s stock valued at $1,844,000 after buying an additional 1,316 shares during the period. Cozad Asset Management Inc. raised its stake in AppLovin by 342.1% in the fourth quarter. Cozad Asset Management Inc. now owns 37,096 shares of the company’s stock valued at $12,013,000 after buying an additional 28,706 shares during the period. Finally, Signaturefd LLC raised its stake in AppLovin by 21.8% in the fourth quarter. Signaturefd LLC now owns 3,402 shares of the company’s stock valued at $1,102,000 after buying an additional 608 shares during the period. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Up 4.8 %

Shares of APP opened at $306.85 on Tuesday. The stock has a market capitalization of $104.32 billion, a price-to-earnings ratio of 67.59, a PEG ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin Co. has a 52 week low of $60.67 and a 52 week high of $525.15. The stock has a fifty day moving average of $356.03 and a 200-day moving average of $270.72.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, sell-side analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on APP shares. Benchmark upped their price objective on AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. UBS Group increased their target price on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Loop Capital increased their target price on AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Piper Sandler increased their target price on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $438.28.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Victoria Valenzuela sold 15,971 shares of AppLovin stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the completion of the transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 322,871 shares of company stock valued at $111,401,882. Corporate 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.