O Shaughnessy Asset Management LLC Boosts Stock Position in AppLovin Co. (NASDAQ:APP)

O Shaughnessy Asset Management LLC increased its stake in shares of AppLovin Co. (NASDAQ:APP) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 406,405 shares of the company’s stock after buying an additional 5,087 shares during the quarter. AppLovin accounts for 1.1% of O Shaughnessy Asset Management LLC’s investment portfolio, making the stock its 10th largest holding. O Shaughnessy Asset Management LLC owned 0.12% of AppLovin worth $131,606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of APP. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin in the 4th quarter worth approximately $25,000. Riverview Trust Co lifted its holdings in 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 acquiring an additional 82 shares during the period. Tucker Asset Management LLC purchased a new position in AppLovin in the fourth quarter worth $28,000. Hemington Wealth Management grew its stake in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Finally, Fifth Third Bancorp increased its position in shares of AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after purchasing an additional 62 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Price Performance

Shares of NASDAQ APP opened at $272.38 on Friday. The stock’s 50-day simple moving average is $351.86 and its two-hundred day simple moving average is $283.07. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The firm has a market capitalization of $92.60 billion, a P/E ratio of 60.00, a P/E/G ratio of 3.02 and a beta of 2.33. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping 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%. As a group, equities analysts anticipate that AppLovin Co. will post 6.87 EPS for the current fiscal year.

Analysts Set New Price Targets

APP has been the subject of several research reports. Jefferies Financial Group increased their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Oppenheimer reissued an “outperform” rating on shares of AppLovin in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Wells Fargo & Company set a $538.00 price objective on AppLovin and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, Arete Research set a $200.00 target price on AppLovin in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $435.47.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of AppLovin 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 transaction, the chief technology officer now directly owns 88,389 shares of the company’s stock, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were 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 directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This trade represents 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 corporate 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.