5,502,645 Shares in AppLovin Co. (NASDAQ:APP) Purchased by SVB Wealth LLC

SVB Wealth LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 5,502,645 shares of the company’s stock, valued at approximately $1,781,922,000. AppLovin comprises 33.3% of SVB Wealth LLC’s portfolio, making the stock its largest holding.

Several other hedge funds have also recently bought and sold shares of the stock. Townsquare Capital LLC boosted its holdings in AppLovin by 64.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after purchasing an additional 3,126 shares during the period. Second Half Financial Partners LLC acquired a new stake in shares of AppLovin in the third quarter valued at approximately $224,000. State Street Corp boosted its stake in shares of AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after buying an additional 428,419 shares during the period. Eagle Asset Management Inc. grew its position in AppLovin by 2,200.4% during the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after buying an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management increased its stake in AppLovin by 328.1% during the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock worth $13,854,000 after acquiring an additional 81,331 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 17,925 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 405,676 shares in the company, valued at $143,670,155.40. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 224,872 shares of company stock valued at $82,158,554 over the last ninety days. 14.69% of the stock is owned by company insiders.

AppLovin Trading Up 1.6 %

Shares of NASDAQ APP opened at $325.78 on Friday. The stock has a market cap of $109.33 billion, a P/E ratio of 71.76, a price-to-earnings-growth ratio of 3.02 and a beta of 2.30. The firm has a 50 day moving average price of $367.79 and a two-hundred day moving average price of $252.97. 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 $57.40 and a 52-week high of $525.15.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 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, equities analysts forecast that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. UBS Group upped their target price on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Bank of America increased their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $80.00 to $280.00 in a research report on Friday, November 8th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group boosted their price objective on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $452.29.

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.