1,551 Shares in AppLovin Co. (NASDAQ:APP) Bought by Driehaus Capital Management LLC

Driehaus Capital Management LLC purchased a new stake in AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,551 shares of the company’s stock, valued at approximately $502,000.

Other institutional investors have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. purchased a new position in AppLovin in the 4th quarter worth $25,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of AppLovin in the fourth quarter worth about $25,000. Riverview Trust Co lifted its holdings 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 during the period. Tucker Asset Management LLC purchased a new stake in AppLovin in the fourth quarter valued at approximately $28,000. Finally, Hemington Wealth Management increased its holdings in AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Activity at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on Monday, March 10th. The stock was 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 owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were 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 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 disclosure for this sale can be found here. In the last quarter, insiders sold 306,900 shares of company stock valued at $106,401,841. Corporate insiders own 14.69% of the company’s stock.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $328.79 on Friday. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. AppLovin Co. has a 1 year low of $60.67 and a 1 year high of $525.15. The firm has a market capitalization of $111.77 billion, a PE ratio of 72.42, a P/E/G ratio of 3.02 and a beta of 2.39. The business’s 50 day moving average price is $275.55 and its 200-day moving average price is $311.59.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 EPS. As a group, equities research analysts expect that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on APP. UBS Group upped their price objective on shares of AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a report on Thursday. HSBC set a $436.00 price target on shares of AppLovin and gave the company a “buy” rating in a report on Wednesday, April 23rd. Jefferies Financial Group lifted their price objective on AppLovin from $460.00 to $530.00 and gave the company a “buy” rating in a research note on Thursday. Arete Research set a $200.00 target price on AppLovin in a research note on Wednesday, March 5th. Finally, Citigroup lifted their price target on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $433.85.

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.