Fulton Bank N.A. Boosts Stake in AppLovin Co. (NASDAQ:APP)

Fulton Bank N.A. increased its stake in AppLovin Co. (NASDAQ:APP) by 12.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,429 shares of the company’s stock after purchasing an additional 908 shares during the quarter. Fulton Bank N.A.’s holdings in AppLovin were worth $2,730,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of APP. Townsquare Capital LLC lifted its stake in shares of AppLovin by 64.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after buying an additional 3,126 shares in the last quarter. Second Half Financial Partners LLC purchased a new position in shares of AppLovin in the third quarter valued at about $224,000. State Street Corp boosted its stake in shares of AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after acquiring an additional 428,419 shares during the period. Eagle Asset Management Inc. grew its position in shares of AppLovin by 2,200.4% during the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after purchasing an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management raised its stake in AppLovin by 328.1% during the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after purchasing an additional 81,331 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Craig Scott Billings sold 18,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the sale, the director now directly owns 2,987 shares of the company’s stock, valued at $952,673.78. This represents a 85.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 888,867 shares of company stock worth $284,773,062 over the last quarter. Company insiders own 14.69% of the company’s stock.

AppLovin Trading Down 1.2 %

Shares of APP stock traded down $3.80 during trading hours on Wednesday, reaching $326.21. 2,461,099 shares of the stock were exchanged, compared to its average volume of 4,437,826. The firm has a market capitalization of $109.47 billion, a price-to-earnings ratio of 98.85, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. AppLovin Co. has a 12-month low of $38.60 and a 12-month high of $417.64. The company’s 50-day moving average price is $308.96 and its 200-day moving average price is $175.97. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) 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 business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. As a group, equities analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

APP has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of AppLovin from $270.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Loop Capital boosted their price target on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Citigroup raised their price objective on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, BTIG Research boosted their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $310.71.

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.