Victory Capital Management Inc. Has $110.33 Million Holdings in AppLovin Co. (NASDAQ:APP)

Victory Capital Management Inc. lessened its holdings in shares of AppLovin Co. (NASDAQ:APP) by 9.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 340,709 shares of the company’s stock after selling 34,183 shares during the quarter. Victory Capital Management Inc.’s holdings in AppLovin were worth $110,332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JFS Wealth Advisors LLC increased its position in shares of AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of AppLovin by 4.0% during the third quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after acquiring an additional 39 shares during the period. Hemington Wealth Management boosted its holdings in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after acquiring an additional 40 shares during the period. Versant Capital Management Inc boosted its holdings in shares of AppLovin by 19.7% during the fourth quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after acquiring an additional 53 shares during the period. Finally, Great Valley Advisor Group Inc. boosted its holdings in shares of AppLovin by 2.2% during the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

AppLovin Stock Performance

Shares of APP opened at $318.00 on Thursday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $106.72 billion, a P/E ratio of 70.04, a price-to-earnings-growth ratio of 3.02 and a beta of 2.30. The firm’s fifty day simple moving average is $366.88 and its two-hundred day simple moving average is $259.26. AppLovin Co. has a 12 month low of $59.30 and a 12 month high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction dated 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 of the company’s stock, valued at $116,526,219.35. This represents a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Herald Y. Chen sold 400 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the transaction, the chief financial officer now directly owns 207,649 shares in the company, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 406,947 shares of company stock valued at $140,740,416 in the last 90 days. 14.69% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on APP shares. JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Jefferies Financial Group upped their price target on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, Wedbush reiterated an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $452.29.

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.