AppLovin Co. (NASDAQ:APP) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its stake in shares of AppLovin Co. (NASDAQ:APP) by 6.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 947,642 shares of the company’s stock after purchasing an additional 61,152 shares during the period. Clearbridge Investments LLC owned 0.28% of AppLovin worth $306,875,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. JFS Wealth Advisors LLC lifted its holdings in shares of AppLovin by 38.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after acquiring an additional 29 shares during the last quarter. Truvestments Capital LLC boosted its position in AppLovin by 0.7% in the 4th quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock valued at $1,696,000 after buying an additional 38 shares during the period. National Bank of Canada FI grew its stake in shares of 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 acquiring an additional 39 shares in the last quarter. Hemington Wealth Management raised its stake in shares of 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 acquiring an additional 40 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in AppLovin by 19.7% in the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock valued at $104,000 after purchasing an additional 53 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Price Performance

Shares of NASDAQ APP opened at $272.38 on Friday. AppLovin Co. has a twelve month low of $60.67 and a twelve 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 50-day moving average of $351.86 and a two-hundred day moving average of $283.07. The company has a market capitalization of $92.60 billion, a price-to-earnings ratio of 60.00, a PEG ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

APP has been the subject of several recent analyst reports. Oppenheimer reaffirmed an “outperform” rating on shares of AppLovin in a research report on Thursday. Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the stock an “overweight” rating in a report on Thursday, February 27th. Loop Capital reiterated a “buy” rating on shares of AppLovin in a research note on Friday. JPMorgan Chase & Co. increased their target price on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, FBN Securities started coverage on shares of AppLovin in a research note on Friday. They issued an “outperform” rating and a $385.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $435.47.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s 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 completion of the sale, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by company insiders.

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.