Blue Trust Inc. Has $2.11 Million Holdings in AppLovin Co. (NASDAQ:APP)

Blue Trust Inc. lifted its position in shares of AppLovin Co. (NASDAQ:APP) by 49.3% during the 4th quarter, HoldingsChannel reports. The fund owned 6,502 shares of the company’s stock after purchasing an additional 2,146 shares during the period. Blue Trust Inc.’s holdings in AppLovin were worth $2,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of APP. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin during the third quarter valued at about $25,000. DT Investment Partners LLC bought a new position in AppLovin in the 3rd quarter valued at approximately $27,000. Meeder Asset Management Inc. acquired a new stake in AppLovin during the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in AppLovin during the 3rd quarter worth approximately $29,000. Finally, Fifth Third Bancorp grew its holdings in AppLovin by 172.2% during the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after acquiring an additional 62 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 500 shares of AppLovin 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 completion of the transaction, the director now owns 6,684 shares in the company, valued at approximately $2,715,508.68. The trade was a 6.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arash Adam Foroughi sold 1,676 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the sale, the chief executive officer now directly owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APP. Wedbush reiterated an “outperform” rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. BTIG Research upped their price target on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research report 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. Benchmark started coverage on AppLovin in a research note on Friday, January 10th. They issued a “buy” rating and a $375.00 price objective on the stock. Finally, Piper Sandler began coverage on shares of AppLovin in a research report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $366.29.

AppLovin Price Performance

APP stock opened at $343.02 on Tuesday. AppLovin Co. has a 1 year low of $40.71 and a 1 year high of $417.64. The stock has a market capitalization of $115.11 billion, a PE ratio of 103.95, a price-to-earnings-growth ratio of 2.96 and a beta of 2.29. The company’s 50-day moving average is $338.31 and its 200-day moving average is $201.05. 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 quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.13 billion. During the same quarter last year, the firm posted $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year. Equities research analysts expect that AppLovin Co. will post 4.06 EPS for the current fiscal year.

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.