PGGM Investments Raises Stock Holdings in AppLovin Co. (NASDAQ:APP)

PGGM Investments increased its stake in AppLovin Co. (NASDAQ:APP) by 493.0% during the 4th quarter, Holdings Channel reports. The firm owned 18,976 shares of the company’s stock after purchasing an additional 15,776 shares during the quarter. PGGM Investments’ holdings in AppLovin were worth $6,145,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GHP Investment Advisors Inc. bought a new position in shares of AppLovin in the 4th quarter worth $25,000. Meeder Asset Management Inc. bought a new position in AppLovin in the third quarter valued at $27,000. Riverview Trust Co raised its position in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after purchasing an additional 82 shares in the last quarter. Hemington Wealth Management raised its position in AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in AppLovin by 172.2% during the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after purchasing an additional 62 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Stock Performance

NASDAQ:APP opened at $272.00 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm’s fifty day simple moving average is $358.15 and its 200 day simple moving average is $265.29. The stock has a market cap of $92.47 billion, a P/E ratio of 59.91, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share 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, research analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on APP. Benchmark raised their price objective on AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Citigroup lifted their price target on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Macquarie boosted their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Bank of America increased their target price on shares of AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $438.28.

Insider Buying and Selling at AppLovin

In related news, CEO Arash Adam Foroughi sold 44,400 shares of AppLovin stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $410.89, for a total transaction of $18,243,516.00. Following the completion of the transaction, the chief executive officer now directly owns 2,869,492 shares of the company’s stock, valued at $1,179,045,567.88. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares in the company, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 322,871 shares of company stock valued at $111,401,882. 14.69% of the stock is currently 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.