AppLovin Co. (NASDAQ:APP) Holdings Increased by Fmr LLC

Fmr LLC increased its stake in AppLovin Co. (NASDAQ:APP) by 622.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,893,237 shares of the company’s stock after acquiring an additional 6,801,138 shares during the period. Fmr LLC owned approximately 2.36% of AppLovin worth $1,030,462,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in APP. WCM Investment Management LLC lifted its holdings in AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after acquiring an additional 1,029,009 shares during the last quarter. Lone Pine Capital LLC boosted its holdings in AppLovin by 7.2% during the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after buying an additional 382,767 shares in the last quarter. Fred Alger Management LLC acquired a new position in AppLovin in the second quarter worth approximately $290,655,000. 1832 Asset Management L.P. increased its holdings in shares of AppLovin by 977.2% in the second quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after buying an additional 1,357,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of AppLovin by 27.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,494,516 shares of the company’s stock valued at $124,372,000 after acquiring an additional 322,563 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Buying and Selling

In related news, CFO Matthew Stumpf sold 21,101 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $332.67, for a total value of $7,019,669.67. Following the completion of the transaction, the chief financial officer now directly owns 213,336 shares in the company, valued at approximately $70,970,487.12. This represents a 9.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.14, for a total transaction of $12,999,630.00. Following the completion of the sale, the chief technology officer now directly owns 4,530,455 shares in the company, valued at $381,192,483.70. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 854,065 shares of company stock valued at $233,072,408. 14.69% of the stock is owned by company insiders.

AppLovin Stock Down 0.4 %

APP stock opened at $328.56 on Thursday. The stock has a market capitalization of $110.26 billion, a price-to-earnings ratio of 99.56, a price-to-earnings-growth ratio of 3.94 and a beta of 1.86. The company has a 50-day moving average of $189.49 and a two-hundred day moving average of $121.08. AppLovin Co. has a 52-week low of $35.79 and a 52-week high of $344.77. 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 (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company earned $0.30 EPS. The firm’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, equities research analysts anticipate that AppLovin Co. will post 4.05 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on APP. Wells Fargo & Company boosted their price objective on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Benchmark reaffirmed a “sell” rating and issued a $66.00 target price on shares of AppLovin in a research report on Thursday, November 7th. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Finally, Jefferies Financial Group increased their target price on shares of AppLovin from $270.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.57.

AppLovin Company 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.