Catalina Capital Group LLC Purchases Shares of 1,079 AppLovin Co. (NASDAQ:APP)

Catalina Capital Group LLC purchased a new position in shares of AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,079 shares of the company’s stock, valued at approximately $349,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in APP. WCM Investment Management LLC lifted its holdings in shares of AppLovin by 10.5% in the 3rd 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 last quarter. FMR LLC raised its position in shares of AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares during the period. State Street Corp lifted its position in shares of AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares during the last quarter. Geode Capital Management LLC boosted its holdings in AppLovin by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after purchasing an additional 449,241 shares during the period. Finally, Fred Alger Management LLC lifted its position in shares of AppLovin by 1.3% in the 3rd quarter. Fred Alger Management LLC now owns 3,539,467 shares of the company’s stock worth $462,077,000 after acquiring an additional 46,854 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. UBS Group lifted their price objective on AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Citigroup upped their target price on shares of AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Benchmark started coverage on AppLovin in a report on Friday, January 10th. They set a “buy” rating and a $375.00 price objective for the company. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $366.29.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total value of $6,348,138.75. Following the completion of the transaction, the insider now owns 405,676 shares of the company’s stock, valued at approximately $143,670,155.40. The trade was a 4.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $318.94, for a total transaction of $5,740,920.00. Following the transaction, the director now owns 2,987 shares in the company, valued at approximately $952,673.78. The trade was a 85.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock worth $284,773,062 in the last three months. Insiders own 14.69% of the company’s stock.

AppLovin Trading Down 1.1 %

Shares of APP stock opened at $365.44 on Tuesday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company’s 50-day moving average price is $342.49 and its 200-day moving average price is $210.96. AppLovin Co. has a twelve month low of $44.01 and a twelve month high of $417.64. The stock has a market cap of $122.64 billion, a price-to-earnings ratio of 110.74, a PEG ratio of 3.00 and a beta of 2.30.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. As a group, equities analysts predict that AppLovin Co. will post 4.09 earnings per share for the current year.

About AppLovin

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.