AppLovin Co. (NASDAQ:APP) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its holdings in shares of AppLovin Co. (NASDAQ:APP) by 4.1% in the 4th quarter, Holdings Channel reports. The fund owned 79,609 shares of the company’s stock after acquiring an additional 3,172 shares during the period. Pictet Asset Management Holding SA’s holdings in AppLovin were worth $25,780,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. JFS Wealth Advisors LLC raised its holdings in AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. Truvestments Capital LLC lifted its position in shares of AppLovin by 0.7% during the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after purchasing an additional 38 shares during the last quarter. National Bank of Canada FI grew its stake in AppLovin by 4.0% in the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after purchasing an additional 39 shares in the last quarter. Hemington Wealth Management increased its holdings in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in AppLovin by 19.7% during the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after buying an additional 53 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Monday, March 17th. Wells Fargo & Company set a $538.00 target price on shares of AppLovin and gave the company an “overweight” rating in a research note on Thursday, February 27th. Piper Sandler raised their price target on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Macquarie boosted their price objective on shares of AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, The Goldman Sachs Group raised their target price on shares of AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $435.47.

Insider Buying and Selling

In related news, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the transaction, the chief executive officer now directly owns 2,869,492 shares of the company’s stock, valued at $1,179,045,567.88. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock valued at $106,401,841 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of APP opened at $264.97 on Tuesday. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The stock’s fifty day moving average is $350.31 and its 200-day moving average is $285.50. 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 firm has a market capitalization of $90.08 billion, a price-to-earnings ratio of 58.36, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 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 analysts anticipate that AppLovin Co. will post 6.87 EPS 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.