AppLovin Co. (NASDAQ:APP) Shares Bought by Vestcor Inc

Vestcor Inc grew its position in AppLovin Co. (NASDAQ:APP) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,075 shares of the company’s stock after acquiring an additional 150 shares during the period. Vestcor Inc’s holdings in AppLovin were worth $1,320,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. GHP Investment Advisors Inc. acquired a new stake in AppLovin in the 4th quarter valued at $25,000. Riverview Trust Co increased its stake in shares of AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares in the last quarter. Hemington Wealth Management raised its position in shares of AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Fifth Third Bancorp lifted its stake in AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after buying an additional 62 shares in the last quarter. Finally, Smithfield Trust Co acquired a new stake in AppLovin in the 4th quarter worth about $32,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction 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. The trade was a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 322,871 shares of company stock worth $111,401,882 over the last ninety days. Company insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on APP. Citigroup increased their target price on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Macquarie upped their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Loop Capital raised their price target on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Arete Research set a $200.00 price objective on shares of AppLovin in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $438.28.

AppLovin Stock Up 7.7 %

Shares of APP opened at $292.89 on Friday. The company’s 50-day moving average price is $357.00 and its 200 day moving average price is $267.94. AppLovin Co. has a 12-month low of $60.67 and a 12-month high of $525.15. 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 firm has a market cap of $99.57 billion, a P/E ratio of 64.51, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, sell-side analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current year.

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.