AppLovin Co. (NASDAQ:APP) Shares Bought by National Bank of Canada FI

National Bank of Canada FI grew its holdings in AppLovin Co. (NASDAQ:APP) by 4,620.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 47,350 shares of the company’s stock after buying an additional 46,347 shares during the period. National Bank of Canada FI’s holdings in AppLovin were worth $15,334,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of APP. HighPoint Advisor Group LLC lifted its position in AppLovin by 1.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock valued at $590,000 after buying an additional 31 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of AppLovin by 8.8% in the 4th quarter. Franklin Resources Inc. now owns 1,084,957 shares of the company’s stock valued at $351,342,000 after acquiring an additional 87,961 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of AppLovin by 193.6% in the 4th quarter. Alliancebernstein L.P. now owns 2,725,101 shares of the company’s stock worth $882,469,000 after acquiring an additional 1,797,027 shares during the last quarter. AIA Group Ltd purchased a new position in shares of AppLovin during the 4th quarter worth approximately $449,000. Finally, O Shaughnessy Asset Management LLC increased its holdings in AppLovin by 1.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 406,405 shares of the company’s stock valued at $131,606,000 after purchasing an additional 5,087 shares during the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Price Performance

APP stock opened at $219.37 on Friday. The stock has a market cap of $74.58 billion, a price-to-earnings ratio of 48.32, a PEG ratio of 3.02 and a beta of 2.33. AppLovin Co. has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The business has a 50 day moving average price of $342.89 and a 200 day moving average price of $287.27.

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

Analysts Set New Price Targets

APP has been the topic of a number of research reports. FBN Securities started coverage on AppLovin in a research note on Friday, March 28th. They set an “outperform” rating and a $385.00 price target on the stock. 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. Citigroup lifted their target price on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Loop Capital reissued a “buy” rating and set a $650.00 price target on shares of AppLovin in a research report on Friday, March 28th. Finally, Benchmark lifted their price objective on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $435.47.

Insider Transactions at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at $21,359,201.85. The trade was a 16.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 306,900 shares of company stock worth $106,401,841. Corporate insiders own 14.69% of the company’s stock.

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.