Alliancebernstein L.P. Purchases 1,797,027 Shares of AppLovin Co. (NASDAQ:APP)

Alliancebernstein L.P. boosted its position in AppLovin Co. (NASDAQ:APP) by 193.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,725,101 shares of the company’s stock after buying an additional 1,797,027 shares during the quarter. Alliancebernstein L.P.’s holdings in AppLovin were worth $882,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. AIA Group Ltd purchased a new stake in shares of AppLovin in the 4th quarter valued at $449,000. O Shaughnessy Asset Management LLC lifted its stake in AppLovin by 1.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 406,405 shares of the company’s stock worth $131,606,000 after purchasing an additional 5,087 shares during the last quarter. Clearbridge Investments LLC lifted its stake in AppLovin by 6.9% in the fourth quarter. Clearbridge Investments LLC now owns 947,642 shares of the company’s stock worth $306,875,000 after purchasing an additional 61,152 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of AppLovin by 27,065.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 148,323 shares of the company’s stock valued at $48,828,000 after buying an additional 147,777 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of AppLovin during the fourth quarter valued at about $94,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Trading Up 4.1 %

NASDAQ APP opened at $272.38 on Monday. The firm has a market capitalization of $92.60 billion, a PE ratio of 60.00, a P/E/G ratio of 3.02 and a beta of 2.33. The stock’s 50 day moving average is $351.86 and its 200 day moving average is $284.38. AppLovin Co. has a twelve month low of $60.67 and a twelve month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. Research analysts forecast that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus boosted 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 boosted their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. FBN Securities initiated coverage on shares of AppLovin in a report on Friday. They issued an “outperform” rating and a $385.00 target price on the stock. Piper Sandler lifted their target price on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Arete Research set a $200.00 price target on shares of AppLovin in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $435.47.

Insider Activity at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. The trade was a 16.53 % 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, CEO Arash Adam Foroughi sold 45,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 in the last three months. Company insiders own 14.69% of the company’s stock.

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.