Berbice Capital Management LLC Invests $631,000 in AppLovin Co. (NASDAQ:APP)

Berbice Capital Management LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 1,950 shares of the company’s stock, valued at approximately $631,000. AppLovin accounts for 0.5% of Berbice Capital Management LLC’s investment portfolio, making the stock its 27th biggest position.

Other institutional investors have also modified their holdings of the company. WCM Investment Management LLC boosted 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 worth $1,382,307,000 after acquiring an additional 1,029,009 shares during the period. FMR LLC increased its position in AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after buying an additional 6,801,138 shares during the period. State Street Corp increased its position in 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 buying an additional 428,419 shares during the period. Geode Capital Management LLC grew its stake in shares of AppLovin by 12.8% in the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after purchasing an additional 449,241 shares in the last quarter. Finally, Fred Alger Management LLC grew its stake in shares of AppLovin by 1.3% in the third quarter. Fred Alger Management LLC now owns 3,539,467 shares of the company’s stock worth $462,077,000 after purchasing an additional 46,854 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on APP. Stifel Nicolaus raised their target price on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Macquarie increased their price objective on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Bank of America raised their price objective on AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $355.41.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $364.39 on Friday. AppLovin Co. has a 1-year low of $40.71 and a 1-year high of $417.64. The firm has a market capitalization of $122.28 billion, a PE ratio of 110.41, a PEG ratio of 2.96 and a beta of 2.29. The business’s 50 day moving average is $335.97 and its 200-day moving average is $195.69. 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 quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping 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 company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm earned $0.30 EPS. AppLovin’s revenue for the quarter was up 38.6% compared to the same quarter last year. Sell-side analysts predict that AppLovin Co. will post 4.06 earnings per share for the current year.

Insider Transactions at AppLovin

In other news, CFO Herald Y. Chen sold 400 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the sale, the chief financial officer now owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. This represents a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $406.27, for a total transaction of $203,135.00. Following the sale, the director now owns 6,684 shares of the company’s stock, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is owned by corporate insiders.

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.