Trivest Advisors Ltd Acquires New Holdings in AppLovin Co. (NASDAQ:APP)

Trivest Advisors Ltd bought a new position in AppLovin Co. (NASDAQ:APP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 109,950 shares of the company’s stock, valued at approximately $35,605,000. AppLovin comprises approximately 1.6% of Trivest Advisors Ltd’s investment portfolio, making the stock its 23rd biggest position.

A number of other large investors have also recently added to or reduced their stakes in APP. FMR LLC grew its position in shares of AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after purchasing an additional 6,801,138 shares during the last quarter. SVB Wealth LLC acquired a new stake in AppLovin in the 4th quarter valued at approximately $1,781,922,000. Baillie Gifford & Co. grew its holdings in AppLovin by 5,421.4% in the 4th quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock valued at $1,322,682,000 after buying an additional 4,010,520 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of AppLovin during the fourth quarter worth approximately $535,070,000. Finally, Jennison Associates LLC bought a new stake in shares of AppLovin in the fourth quarter valued at approximately $414,462,000. Institutional investors own 41.85% of the company’s stock.

Analyst Upgrades and Downgrades

APP has been the topic of a number of research reports. Macquarie boosted their target price on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Arete Research set a $200.00 price objective on shares of AppLovin in a research report on Wednesday, March 5th. Benchmark increased their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Stifel Nicolaus boosted their price target on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Loop Capital upped their price target on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $438.28.

Insider Activity at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 322,871 shares of company stock valued at $111,401,882 in the last three months. Corporate insiders own 14.69% of the company’s stock.

AppLovin Trading Down 9.1 %

Shares of AppLovin stock opened at $278.84 on Wednesday. The stock has a market capitalization of $94.79 billion, a P/E ratio of 61.42, a price-to-earnings-growth ratio of 3.02 and a beta of 2.33. AppLovin Co. has a 12-month low of $60.67 and a 12-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. The company has a 50-day simple moving average of $355.01 and a 200 day simple moving average of $272.03.

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