68,941 Shares in AppLovin Co. (NASDAQ:APP) Purchased by Roberts Foundation

Roberts Foundation bought a new stake in shares of AppLovin Co. (NASDAQ:APP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 68,941 shares of the company’s stock, valued at approximately $22,325,000. AppLovin comprises about 10.7% of Roberts Foundation’s portfolio, making the stock its 3rd biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in APP. Capital Performance Advisors LLP purchased a new stake in AppLovin during the 3rd quarter valued at about $25,000. GHP Investment Advisors Inc. acquired a new position in shares of AppLovin during the 4th quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new stake in shares of AppLovin in the third quarter valued at approximately $27,000. Hemington Wealth Management increased its holdings in shares of AppLovin by 78.4% in 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 during the last quarter. Finally, Fifth Third Bancorp lifted its position 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 buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on APP shares. Jefferies Financial Group upped their target price on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Citigroup raised their price objective on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Benchmark boosted their target price on shares of AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on shares of AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group lifted their price target on shares of AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $452.29.

AppLovin Stock Down 12.2 %

Shares of NASDAQ:APP opened at $331.00 on Thursday. The firm’s 50-day moving average is $368.06 and its two-hundred day moving average is $250.75. 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 Co. has a 1 year low of $57.40 and a 1 year high of $525.15. The firm has a market capitalization of $111.08 billion, a PE ratio of 72.91, a price-to-earnings-growth ratio of 3.02 and a beta of 2.30.

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

Insider Activity

In related news, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $366.16, for a total value of $146,464.00. Following the sale, the chief financial officer now owns 207,649 shares of the company’s stock, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $597,309.64. Following the transaction, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,372 shares of company stock worth $92,519,099. Corporate insiders own 14.69% of the company’s stock.

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.